Jet Airways seeks shareholders' nod for converting debt into equity
Updated : February 22, 2019 06:45 AM IST
The proposal, an attempt to relieve the financial strain on the passenger carrier, was put forth to the shareholders at the EGM held here on Thursday. Results of the vote will be announced on Friday.
The special resolution to allow conversion of loans into "shares or convertible instruments or other securities" comes after Jet Airways Board approved the BLPRP on February 14.
Jet Airways reported Rs 587.7 crore as standalone net loss for the third quarter ended December 31, 2018. It had reported a net profit of Rs 165.25 crore during the year-ago period.