Date:08/01/2005 URL: http://www.thehindubusinessline.com/2005/01/08/stories/2005010802650100.htm

Back Naresh Goyal fully owns Jet Airways

Our Bureau

Mumbai , Jan. 7

MR Naresh Goyal fully owns domestic airline Jet Airways, according to the initial public offer document filed with the Securities and Exchange Board of India (SEBI).

The prospectus says that Jet Airways is owned by Tail Winds, an investment company registered in the Isle of Man. Mr Goyal owns 100 per cent of the share capital of Tail Winds.

The company has an authorised capital of $30 million and paid-up capital of $20 million. Its principal business is that of investment in Jet Airways, the prospectus adds.Jet Airways clocked net profit of Rs 130 crore on revenue of Rs 1,966 crore in the first six months of 2004-05.

During the same period in the previous year, it had clocked net loss of a little over Rs 15 crore on revenue of Rs 1,680 crore.