Jet Airways delays rights issue further to Jan/Feb 2008

New Delhi: Jet Airways Ltd has delayed further a planned $400 million rights issue aimed at providing funds for the company''s expansion plans. The issue has now been pushed to January or February next year, chairman Naresh Goyal said on Friday.

It had earlier delayed the issue, in the month of September, because of "turmoil'' in global credit markets.

The airline''s board had cleared the fund raising plans in June, with the funds to be used for expansion and an overhaul of Air Sahara, which it bought in April and has since renamed JetLite.