As the counting of votes from the extraordinary general meeting held on February 21 goes on at Jet Airways, many of the airline's stakeholders, including pilots and investors, are keenly watching from the sidelines.
The airline had called for the EGM to put to vote its resolution plan, which includes allotment of 114 million shares to lenders and conversion of debt into equity.
Jet Airways has time till February 23 to announce the result.
Post the EGM result, the management is expected to make an announcement that will provide better clarity on how much debt will get converted into equity and if Etihad Airways will bring in more money.
The Abhu Dhabi-based airline currently holds 21 percent stake in Jet Airways and the same will reduce to 12 percent as the shareholding dilutes after the share allotment. That stake may go higher if Etihad Airways pumps in more money.
22/02/19 Prince Mathews Thomas/Moneycontrol
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The airline had called for the EGM to put to vote its resolution plan, which includes allotment of 114 million shares to lenders and conversion of debt into equity.
Jet Airways has time till February 23 to announce the result.
Post the EGM result, the management is expected to make an announcement that will provide better clarity on how much debt will get converted into equity and if Etihad Airways will bring in more money.
The Abhu Dhabi-based airline currently holds 21 percent stake in Jet Airways and the same will reduce to 12 percent as the shareholding dilutes after the share allotment. That stake may go higher if Etihad Airways pumps in more money.
22/02/19 Prince Mathews Thomas/Moneycontrol
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