Jet Airways in talks with Etihad Airways to raise up to $400 million worth bonds

Jet Airways is in talks with Etihad Airways to raise up to $400 million via convertible bonds, partly to reduce the former’s debt obligation and partly to expand its operations. This will increase Etihad’s stake in Jet Airways to 49 per cent from the current 24 per cent. The deal requires regulatory approvals and is expected to be closed by March 31, 2016. Currently, Jet Airways has a debt of Rs 110 billion.