Print   Close

Jet Airways to sell Netherlands business to KLM

Reuters     January 17, 2020

Bankrupt Indian airline Jet Airways Ltd said it had agreed to sell its assets in Netherlands to Dutch airline KLM.

If the deal is finalised, it will only involve a sale of part of the company's business and not impact the shareholding pattern, Jet said in a statement dated Jan. 16. It did not detail the assets held in Netherlands.

Once India's biggest private carrier, Jet stopped flying in April after running out of cash, leaving thousands without jobs and pushing up air fares across the country.

It was admitted to bankruptcy court in June after its lenders, led by State Bank of India SBI.NS, failed to agree on a revival plan.

KLM, a part of Air France KLM, was once codeshare partners with the defunct airline and in the wake of Jet's collapse had added flights to India.

ALSO READ: Jet Airways crisis: Synergy Group, Prudent ARC submit EoIs; Hinduja Group backs out

ALSO READ: Air India is finally going to a new owner, here's why


URL for this article :
https://www.businesstoday.in/sectors/aviation/jet-airways-to-sell-netherlands-business-to-klm/story/393986.html
 
@ Copyright 2019 India Today Group.