New Delhi: Shareholders of Jet AirwaysNSE 0.68 % have approved conversion of loan into shares and other proposals as the crisis-hit carrier seeks to fly out of financial turbulence.
During the extraordinary general meeting (EGM) on Thursday, the shareholders also approved alterations to the company’s Articles of Association and Memorandum of Association.
According to a filing to the stock exchanges on Friday, Jet Airways said shareholders have approved five proposals that were put up for voting at the EGM.
Nearly 98 per cent of shareholders gave their nod for “conversion of loan into shares or convertible instruments or other securities”, a move that assumes significance amid the carrier looking to restructure debt as well as raise fresh funds.
