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Jet Airways flies high on aiming to raise $300 million in sale and leaseback

22 Nov 2011 Evaluate

Jet Airways is currently trading at Rs 243.25, up by 4.80 points or 2.01% from its previous closing of Rs 238.45 on the BSE.

The scrip opened at Rs 240.00 and has touched a high and low of Rs 246.60 and Rs 237.25 respectively. So far 67849 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 911.00 on 24-Nov-2010 and a 52 week low of Rs 221.70 on 04-Oct-2011.

Last one week high and low of the scrip stood at Rs 256.50 and Rs 227.00 respectively. The current market cap of the company is Rs 2058.63 crore.

The promoters holding in the company stood at 80.00% while Institutions and Non-Institutions held 12.44% and 7.55% respectively.  

Jet Airways, the country's largest carrier, have been informed by the auditors that the company needs to raise money for meeting its obligations. The company will also need finance to funds its loss-making subsidiary, JetLite, whose net worth has already been eroded.

For this the company is planning to raise $300 million in sale and leaseback of 40 aircraft owned by the company. It is in discussion with leasing companies and is close to finalizing sale and leaseback for the aircraft that are owned by Jet.

Jet Airways currently operates a fleet of 100 aircraft, which includes 10 Boeing 777-300 ER aircraft, 12 airbus A330-200 aircraft, 58 next generation Boeing 737-700/800/900 aircraft and 20 modern ATR72-500 turboprop aircraft.

Jet Airways (I) Share Price

34.04 0.00 (0.00%)
07-Nov-2024 00:00 View Price Chart
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