Leading private Air carrier, Jet Airways has said that it is planning to raise $ 400 million through a share sale to foreign institutions.

The company has sought permission from the government to dilute up to a 20 per cent stake. It plans to invest Rs 450 million in MAS GMR Aerospace Engineering Company

A strike carried out by hundreds of pilots at India's top airline, over the sacking of two colleagues, led to the cancellation of four Jet Airways flights out of the UAE on Tuesday.

The industry sources claimed that since Jet made efforts to limit the inconvenience to customers, other airlines had to be called in to accommodate Dubai passengers, who booked on flights to Mumbai and Delhi, along with Abu Dhabi passengers flying to Mumbai.

Due to the strike, about one-third of India's total daily domestic and foreign flights were cancelled.

Jet Airways has decided to roll out daily services from Sharjah to Kochi from September 1, 2009.

The sources said that the airline will introduce services from Sharjah aboard a state-of-the-art Boeing 737-800 aircraft.

The sources further added this will be Jet Airways' fourth daily service to the Gulf from Kochi, complementing the airline's existing daily services from Kochi to Doha, Kuwait and Muscat sectors.