Jet Airways to raise funds for fleet expansion

Jet has ordered 75 Boeing 737 Max and is negotiating for additional 75 planes of the type

Jet Airways is looking to raise capital to fund its fleet induction and expansion plans.

Jet has ordered 75 Boeing 737 Max and is negotiating for additional 75 planes of the same type. The airline had also ordered Boeing 787-9 planes but has deferred the induction.

Raising equity will help to arrange pre-delivery payments to Boeing, say sources familiar with the matter. "The fundraising will be for expansion," he added.

The airline appointed J P Morgan to help raise funds. Jet's management has been in talks with Delta for a stake sale. Simultaneously, its founder chairman Naresh Goyal is talking