Jet Airways to launch a full-fledged dedicated cargo service

India’s largest private sector airline company Jet Airways has said that they are planning to raise USD 400 million for its expansion plans.

Jet is also aiming to start a full-fledged dedicated cargo service by this year-end. Jet Airways Chairman Naresh Goyal was quoted as saying in the media: “We are looking at a USD 400 million rights issue, which is expected to be completed in four months and the money would be utilized for funding aircraft acquisition.”

Goyal further said that they would honor the commitment made by Air Sahara (which they just recently acquired) to purchase 10 aircrafts from Boeing.

He said: “Where are the planes? There is scarcity of planes. We are going to exercise the options.”

Goyal added: “We hope to launch the full-fledged cargo service by the year-end. Currently, six per cent of our revenue comes from cargo operations and we hope to make it to 10 per cent by the year end.”

the airline company further announced Brussels as its European hub on May 2 to connect different points in the US and Canada.

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