Jet Airways Ltd., Indias second- biggest domestic airline by fleet size, said its in talks to sell a stake to potential investors to raise funds to expand.
“We are talking to various investors,” Executive Director Saroj Datta said in a telephone interview in Mumbai. “No decision has been made yet,” he said, declining to elaborate. rn
rnSingapore state-run investment company Temasek Holdings Pte. is in talks with Jet, the Business Standard newspaper reported earlier, without saying where it obtained the information. Temasek, which declined to confirm the report, may be offered a stake of between 30 percent and 40 percent, the paper said. rn
rnTen-year-old Jet Airways, wholly owned by London-based businessman Naresh Goyal, operates 250 flights a day to cities in India and is trying to raise funds to add more routes, reduce its $1 billion of debt and to add to its fleet of 41 planes.
The airline is expanding to meet anticipated growth in air traffic in an economy that grew 8.1 percent in the year