Tunisian airline Tunisair plans a capital increase of TND16.224 million Tunisian dinars (USD$13.99 million), the Tunis bourse said on Monday.
The move would increase the company's nominal outstanding share capital to TND97.349 million from TND81.124 million, the stock exchange said in a statement.
The country's flag carrier will issue 16,224,890 free shares to existing shareholders with a nominal value of 1.0 dinar each at a ratio of one new share for every five held.
The company gave no more details, such as subscription date and what the proceeds would be used for.
Tunisiar's net income fell 24.5 percent in 2007 from a year earlier due to lower passenger traffic and higher financial costs.
It plans to expand its fleet to 25 planes by 2011 from 20.
