Privately owned Indian carrier Jet Airways has filed an application with local authorities to sell a 20% stake via an initial public offering (IPO). Mumbai-based Jet says it filed its application with the Securities and Exchange Commission of India to sell 17.3 million shares comprising 20% of the airline. It remains unclear how much the IPO could raise, because the share price will be set after prospective shareholders place bids. The carrier is planning to expand its operations after securing Indian government approval to operate long-haul international services, which means it will have to spend money on bigger aircraft.
Source: Flight International