BENGALURU- India’s bankrupt airline Jet Airways has agreed to sell the brand’s Netherlands assets to Dutch airline KLM.
If finalised, the deal will only involve the sale of a part of its business and will not have an impact on the shareholding pattern. Jet did not detail the assets it holds in the Netherlands.
Jet Airways was one of India’s biggest private carriers but it stopped flying in April strapped by cash, leaving several thousand unemployed and hiking country-wide airfares.
In June, Jet was admitted to bankruptcy in court after the lenders led by State Bank of India, could not agree on a plan for their revival.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.