Date:25/11/2004 URL: http://www.thehindu.com/2004/11/25/stories/2004112504321800.htm

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Jet Airways plans IPO

By Our Special Correspondent

NEW DELHI, NOV. 24. Jet Airways is planning to come out with the initial public offering (IPO) soon. The airline is fine-tuning the details of the IPO and hopes to finalise it over the next three weeks, Jet Airways Chairman, Naresh Goyal, told reporters here today.

"There are a number of banks who will advise us on how much to dilute. All these details are being worked out, I hope it will take another three weeks," Mr. Goyal said. Welcoming the raising of foreign direct investment to 49 per cent in the civil aviation sector, Mr. Goyal said it was "very good and a sound decision" which would add to further growth of the sector.

He disclosed that Jet Airways would add another 5-6 Boeing 737-800 aircraft to its fleet by early next year which would strengthen and expand its domestic operations.