Mumbai: Shareholders of Jet Airways (India) Ltd have approved banks’ bailout plan, the airline said in a statement o the BSE on Saturday morning.
According to the company’s statement, 97.99% of Jet Airways shareholders approved the allotment of 114 million fresh shares. The company’s proposal to alter the Articles of Association, and ‘Object Clause’ of Memorandum of Association of the company were also approved by over 99% of shareholders.
The airline’s proposal to let lenders convert debt into equity was approved by over 97% shareholders, the company said.
