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Jagson Airlines to go public next year

Jagson airlines has sold a little less than 15.99% stake to a foreign investor and is likely to go in for public issue next year.

india Updated: Apr 14, 2006 12:36 IST

Jagson airlines has sold a little less than 15.99% stake to a foreign investor and is likely to go in for public issue next year. The airline launched its operations in May last year.

Jagson President and CEO UK Bose, however, refused to disclose the name of the investor or the value of the IPO Bose also said that the airline would start trunk operations from May-end after getting two Airbus A-321 aircraft. By the end of the year, it is expected to have a fleet of six.

With the first two A-321s, Jagson would launch services to nine cities, with the inaugural flight connecting the DelhiBangalore sector. It would add another seven aircraft by the end of 2007 and eight more in 2008. All the aircraft would be on a two-class configuration of economy and executive economy classes, having a price differential of about 15%. The aim is to attract the economy-class business traveller and maintain a healthy financial status for the airline, he added.

Two 26-seater MI-172 helicopters would also join the chopper fleet this month, he said.