Jet Airways on Thursday said it will fund the Rs 2,300 crore (Rs 23 billion) Air Sahara acquisition through its internal resources, even as its board is scheduled to meet on January 21 to consider raising funds.
"We are going to raise funds from our own resources. At present, we have no plans for further dilution of shares," Jet Airways chairman Naresh Goyal told reporters in Mumbai on Thursday.
Jet has called a meeting of its board of directors on January 21 to consider raising funds through an equity or debt instrument, besides for considering its third quarter results.
Referring to the liabilities of Air Sahara, he said Jet will not take any of them.
"Liabilities are their problems. I am not going to take any liability through this acquisition. I am taking the airline business only," Goyal said.
The airline had appointed a special integration team for the complete implementation of the merger, he said.
"We have appointed a team for the implementation of the merger. The consolidation of the airlines will take place after getting approvals from the necessary regulatory bodies," he said.
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