Jet Airways seeks shareholder nod to convert loan into shares
Updated : January 29, 2019 05:22 PM IST
The company will also seek approval to allow its lenders to nominate directors to its board, the airline said in a regulatory filing.
Saddled with a debt of about Rs 8,052 crore ($1.14 billion) as of September 30, Jet is desperately searching for a deal that could help mitigate its severe liquidity crunch.
The latest development comes after Jet on January 17 said a plan involving a cash injection by stakeholders and board changes were in the pipeline.
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