{"id":64785,"date":"2016-04-23T10:23:19","date_gmt":"2016-04-23T10:23:19","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=64785"},"modified":"2016-04-23T10:23:19","modified_gmt":"2016-04-23T10:23:19","slug":"jet-airways-shareholders-approve-jetlite-merger-with-itself","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/jet-airways-shareholders-approve-jetlite-merger-with-itself\/","title":{"rendered":"Jet Airways&#8217; shareholders approve JetLite merger with itself"},"content":{"rendered":"<p>Jet Airways today said it has received shareholders&#8217; approval for the proposed merger of JetLite with itself. <\/p>\n<p>The board of Jet Airways had cleared the proposal to merge JetLite, the low-cost subsidiary with itself, in September last year. <\/p>\n<p>&#8220;&#8230; the equity shareholders of the company have approved the scheme of merger between JetLite ( India) Ltd and Jet Airways (India) Ltd and their respective shareholders and creditors,&#8221; Jet Airways said in a filing to the BSE. <\/p>\n<p>The approval was given during a meeting held on Friday. <\/p>\n<p>On March 18, the Bombay High Court had asked the airline to convene a meeting of equity shareholders on April 22 to consider the proposed merger. <\/p>\n<p>In this regard, Jet Airways had sought directions from the high court. <\/p>\n<p>The merger would lead to greater efficiency in cash management of the merged entity and &#8220;unfettered access to cash flow generated by the combined business which can be deployed more efficiently to maximise shareholder value&#8221;, according to the airline. <\/p>\n<p>Jet Airways had bought Sahara Airlines in April 2007, for Rs 1,450 crore after an arbitration award. It later renamed Sahara Airlines as JetLite and operated it as a low-cost arm.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jet Airways today said it has received shareholders&#8217; approval for the proposed merger of JetLite with itself. The board of Jet Airways had cleared the proposal to merge JetLite, the low-cost subsidiary with itself, in September last year. &#8220;&#8230; the equity shareholders of the company have approved the scheme of merger between JetLite ( India) Ltd and Jet Airways (India) Ltd and their respective shareholders and creditors,&#8221; Jet Airways said in a filing to the BSE. The approval was given during a meeting held on Friday. On March 18, the Bombay High Court had asked the airline to convene a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[229],"tags":[],"class_list":["post-64785","post","type-post","status-publish","format-standard","hentry","category-civil-aviation"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/64785","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=64785"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/64785\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=64785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=64785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=64785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}