Jet Airways (JAI, Mumbai International) may be planning to raise USD300 million in equity, Bloomberg reports, citing confidential sources. Selling stock at a premium to the current share price, the raise could allow the airline to expand its international offerings.

Under its current financial structure, publicly listed Jet Airways is owned 51% by Chairman and founder Naresh Goyal, 24% by Etihad Airways (EY, Abu Dhabi International), and the remainder by private investors. Earlier this year, Etihad was in talks over the proposed acquisition of a further 25% stake in the Indian carrier.

The equity raise may be part of a program of expansion for India’s second largest airline. Last week, Jet Airways announced plans to pursue additional codeshare and interline agreements in order to offer more flights through five gateways: Abu Dhabi International, London Heathrow, Paris CDG, Singapore Changi and Amsterdam Schiphol. Currently, the airline serves sixty-six destinations in seventeen countries and has codeshares with 17 airlines, including Delta Air Lines (DL, Atlanta Hartsfield Jackson), Air France (AF, Paris CDG) and KLM Royal Dutch Airlines (KL, Amsterdam Schiphol). The new agreements could allow it to offer flights to Australia, and more destinations in Europe. Since 2014, Jet Airways has experienced a phenomenal increase in codeshare passengers, going from 650,000 passengers in FY2014 to 2,100,000 in FY2016.