Jazeera Airways gets approval to proceed with rights issue
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Jazeera Airways gets approval to proceed with rights issue

Jazeera Airways gets approval to proceed with rights issue

Kuwait-based carrier Jazeera Airways has received the government's approval for the company's decision to raise its capital by 91% to KD42m ($148.89m) through a rights issue of 200 million shares to existing shareholders, Emirates 24-7 has reported. The rights issue is likely to take place in the fourth quarter of this year once the customary ministerial process is finalised, the privately-held airline said. Last month, Jazeera Airways announced a first half net profit of KD3.8m, up 21.6% from the same period last year, making it the company's best first half on record.

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