As part of a major refinancing, the airline's trying to sell 1.2 billion dollars of heavily discounted extra shares to existing investors.
Jarden analysts say it's an important step in improving the investment appeal of the company, but they retain their sell rating, meaning investors should sell shares.
Andrew Steele and Nick Yeo have reduced their 12-month target share price for the company from 80 to 65 cents, reflecting the greater level of dilution for existing shareholders.
