Shareholders nod for JetLite merger with Jet Airways

The board of Jet Airways had cleared the proposal to merge JetLite, the low-cost subsidiary with itself, in September last year. DH file photo

Jet Airways said it has received shareholders’ approval for the proposed merger of JetLite with itself. The board of Jet Airways had cleared the proposal to merge JetLite, the low-cost subsidiary with itself, in September last year.

“... the equity shareholders of the company have approved the scheme of merger between JetLite (India) Ltd and Jet Airways (India) Ltd and their respective shareholders and creditors,” Jet Airways said in a filing to the BSE.

The approval was given during a meeting held on Friday. On March 18, the Bombay High Court had asked 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.