Jet Airways might soon merge with JetLite and it might be sooner than you think with the company's intentions to fast track talks with shareholders.
Jet Airways' board had approved the merger of the low-cost subsidiary JetLite with the airline in September.
According to a regulatory filing on Monday, Jet Airways said it will seek the nod of "equity shareholders, secured creditors and unsecured creditors" for the proposed merger on April 22.
The meet is being convened following an order from Bombay High Court on March 18 asking the airline to convene a meeting of equity shareholders on April 22 to consider the proposed merger.
In this regard, Jet Airways had sought directions from the high court.
According to Jet Airways, the merger would lead to greater efficiency in cash management of the merged entity and "unfettered access to cash flow generated by the combined business which can be deployed more efficiently to maximise shareholder value".
28/03/16 Business Insider
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Jet Airways' board had approved the merger of the low-cost subsidiary JetLite with the airline in September.
According to a regulatory filing on Monday, Jet Airways said it will seek the nod of "equity shareholders, secured creditors and unsecured creditors" for the proposed merger on April 22.
The meet is being convened following an order from Bombay High Court on March 18 asking the airline to convene a meeting of equity shareholders on April 22 to consider the proposed merger.
In this regard, Jet Airways had sought directions from the high court.
According to Jet Airways, the merger would lead to greater efficiency in cash management of the merged entity and "unfettered access to cash flow generated by the combined business which can be deployed more efficiently to maximise shareholder value".
28/03/16 Business Insider
