Jet plans Singapore flight

Jet plans Singapore flight

Sunday, February 6, 2005 (Mumbai):

Jet Airways is to launch roadshows for its initial public offer (IPO) later this week in Mumbai.

The Airline is also planning to introduce its international services to London and Singapore from March 27.

The roadshows for the Naresh Goyal-promoted airline will be kicked off in Mumbai on February 11 to be followed later this month in Far East, Europe and the US, merchant bankers said today.

Book building route

The IPO offer, through 100 per cent book building route, would be for 1.72 crore shares of Rs 10 each comprising a fresh issue of 1.42 crore shares and offer for sale of 30.21 lakh shares.

This amounts to 4.2 per cent stake held by Isle of Mann registered Tail Winds Ltd, one of the promoting entities.

Meanwhile, the airline, which has been granted seven flights to London, is close to finalising a lease agreement for three Airbus A340 aircraft to operate the daily service to London from March 27, once necessary approvals are in place, airline sources said.

New flights

The daytime flight is to depart around noon and on the return leg arrive here around 11 am, the sources added.

In the coming months, India will have over 60 direct flights a week between India and UK with Air-India, Jet and Sahara being the latest entrants

British Airways, Virgin Atlantic and British Midland are the designated carriers.

The number of flights would be increased to 80 a week under the bilateral agreements signed between the two countries. (PTI)

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