Rupee depreciation has increased Jet Airways’ finance cost and fund raising can help the airline pare its Rs 12,000 crore debt, say analysts.
About 80 per cent of the airline’s debt is dollar denominated and it spends about 5 per cent of its revenue on interest payments.
A Bloomberg report on Thursday said that Jet Airways has initiated talks to raise $300 million in equity from investors other than Etihad Airways. The fundraising discussions are at a preliminary stage and there is no certainty if they will result in a transaction, the report added.
Jet Airways will not comment on market speculation, an airline spokesperson said. The airline stock was 1.8 per cent up at Rs 374 in intra…
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