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Jet Airways plans to sell off Dutch assets to KLM
Grounded Jet Airways is planning to sell off its Netherlands based assets to Dutch flag carrier KLM.
According to a stock market filing, Jet Airways and KLM have entered into a conditional sale and purchase agreement for the assets which are thought to include one aircraft and two airport slots.
The proceeds would be used to pay off creditors in the Netherlands.
The transaction won’t affect bankruptcy proceedings taking place in India.
"The proposed resolution is subject to the completion of several conditions including statutory and regulatory clearances, both under Indian law and Dutch laws," the filing said.
Jet went into administration after going bust in April last year and there remains two businesses still in the frame to buy what is left of the airline as a going concern.
South American based airline group Synergy and Delhi-based Prudent ARC have both submitted expressions of interest.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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