Jet Airways, plans to tap other avenues for mopping up funds. The listed airline company said its board has decided to ask shareholders clearance for mopping up funds from overseas investors, via issue of ADRs/GDRs or FCCB or through Qualified Institutional Placements. In a notice to the stock exchanges, Jet Airways said it would ask the clearance through a postal ballot.

Jet has been planning the rights issue to fund the induction of aircraft and the take over of Air Sahara, which it concluded last year. As their debt:equity ratio is 5:1, the company requires to divest equity to further fund its expansion plans.