The majority of shareholders of Jet Airways have given approval to let lenders take control of the company by converting their debt to equity. According to data shared by the company, nearly 98 per cent of the shareholders who voted at the EGM on Thursday voted in favour of the proposal.
Jet said in a filing to the stock exchanges on Friday shareholders have approved five proposals that were put up for voting at the EGM.
Small investors worried
However, sources said minority shareholders raised questions on lenders taking control of the debt-laden airline.
“Pumping in public money into a debt-laden airline may be risky,” said a minority shareholder, who was present at the EGM. Questions on who will lead the airline also went unaddressed at the meeting.
