Mumbai: Shareholders of Jet Airways (India) Ltd are likely to have approved banks’ bailout plan for the debt-laden airline at Thursday’s extraordinary general meeting (EGM), a person who attended the meeting said. The Jet Airways bailout plan will see conversion of debt to equity in favour of lenders.
“A large majority of the shareholders present at the EGM have approved the proposals in person,” the person mentioned above said, on condition of anonymity.
Shareholders voted for the resolution both in person and online, the person said.
