Jet Airways board approves share issue to Etihad Airways

Jet Airways stated (24-Apr-2013) its board of directors approved the issuance, by way of a preferential allotment, the issue of 27.2 million equity shares at INR10/share to Etihad Airways. The carrier said: "The approval of the shareholders for such issuance and allotment will be sought at an Extraordinary General Meeting to be held in this regard. The board of directors has granted approval for the Company and Etihad PJSC to enter into inter alia, the Investment Agreement in relation to such issuance and allotment and other documents incidental thereto. The said preferential allotment is subject to various conditions precedent including regulatory approvals". [more - original PR]