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Jet Airways holds shareholders' meeting

Press Trust of India  |  Mumbai 

Crisis-hit Thursday convened a meeting of its shareholders where various proposals, including conversion of loans into shares, were discussed.

The cash-strapped full service is looking for funds and restructuring of debt.

founder promoter and did not attend the extraordinary general meeting, which was chaired by

During the meeting, which lasted for around 40 minutes, told shareholders that the has been talking to various investors for capital infusion.

has been consistently working on cost-reduction initiatives and is also looking to rationalise its fleet to improve cost efficiency.

The outcome of the meeting could not be ascertained immediately.

According to the notice that was sent out to shareholders, one of the proposals was for seeking approval for conversion loan into shares or convertible instruments or other securities.

Another proposal was to negotiate and finalise the terms and conditions with the lenders for raising further loans from time to time as well as provide the lenders with a right to convert such loans into shares, or convertible instruments or other securities.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 21 2019. 18:45 IST