The Telegraph
Since 1st March, 1999
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Business Briefs

Jet Air extends fare plan

New Delhi, Sept 20: Jet Airways has extended its scheme of discounted air-fares till March 31, 2003, in line with other carriers, company officials said. The “Everyone Can Fly” scheme, applicable since July on 44 specific designated routes spread across the country, was applicable till this month-end. Under the scheme it had cut down air-fares by almost 50 per cent on a ticket but with a rider that the ticket had to be booked at least 21 days in advance of the journey date. Sources in Indian Airlines said the state-run airline was also mulling a similar extension of its discounted air-fares. The only other domestic airline, Sahara Airways, has already said its discounted fares will run until the year-end.

IA panel

New Delhi, Sept 20: The Indian Airlines board today decided to set up a sub-committee to finalise the leasing of six A-320 aircraft for use during the coming peak winter season. The IA board, which met here today, also decided to retire the oldest aircraft in its fleet, a 24-year old A-300. The domestic carrier now has a fleet of 36 A-320s, 11 Boeing 737s and another five extended airbus aircraft.

UTI Bank

Mumbai, Sept 20: UTI Bank Ltd has allotted non-convertible debentures (NCDs) aggregating Rs 100 crore, including a green shoe option of Rs 50 crore, on private placement basis, to shore up its Tier-II capital.

Matrix move

Mumbai, Sept 20: The board of Matrix Laboratories Ltd today approved the merger of Medicorp Technologies India Ltd and Vorin Laboratories Ltd with the company.

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