Jet Airways’ foreign joint venture partner, the Abu Dhabi-based Etihad Airways, abstained from voting on all the five resolutions put up for shareholders’ approval at the airline’s extraordinary general meeting (EGM) on February 21, people aware of the development told FE.
The resolutions put forth also included voting for approval of conversion of loan into shares or convertible instruments or other securities besides some changes in the Memorandum of Association of the company and also increase its authorised share capital from Rs 200 crore to Rs 2,200 crore.
Sources told FE that Etihad may not have voted as it has still not got the approval of its board for the above resolutions.
