Jet Airways in talks with banks for $180 mln loan - sources

Jet Airways, India's second-biggest airline by passengers, is talking to lenders about raising up to $180 million through a loan, banking sources said on Thursday.

The airline, partly-owned by Abu Dhabi's Etihad Airways, last month reported its first annual profit since 2007, saying it made a net profit of Rs 12.12 billion ($180 million) in the year ended March 31.

Jet was planning to raise $150 million, but that amount could rise to $180 million based on demand, the sources said.

The company was last in the market in December 2014 when it borrowed $150 million from banks over a five-year period for general corporate purposes, according to Thomson Reuters data.

The lead arrangers that time were Bahrain's Ahli United Bank and Arab Banking Corporation, as well as United Arab Emirates lenders Mashreq, Abu Dhabi Commercial Bank and Commercial Bank International.