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Jet to raise $ 400 million for cargo service

umbai: Jet Airways on Sunday said it would consider the $400 million rights issue for its expansion plans and start full-fledged cargo service by this year end.

Jet Airways chairman Naresh Goyal told reporters, "We are looking at a $400 million rights issue, which is expected to be completed in four months and the money would be utilised for funding aircraft acquisition."

Mr. Goyal said that the airlines would also honour the commitment made by Air Sahara to acquire 10 Boeing aircraft. Jet had recently acquired Air Sahara.

"Where are the planes? There is scarcity of planes. We are going to exercise the options," Mr. Goyal said after showcasing two new aircraft.

- PTI

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