(MENAFN) Kuwait's Jazeera Airways announced that it will raise capital by 74 percent to USD145.5 million, reported Arab Times.
The low-cost carrier said that it would release additional 178 million shares to its existing shareholders, with shares be sold at a nominal value of USD0.354 for each share.
The carrier, which has a fleet of 15 Airbus A320s, said that the move was endorsed by an Amiri decree in August.
Only 7 of the carrier's planes are currently in operation, whereas another 3 forecasted to arrive over the coming 2 years, and the remaining 5 have been let out on leasing contracts.
It is worth noting that Jazeera Airways, listed on KSE, is one of the Middle East's few fully private carriers.
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