Jet Airways inks pact to sell Dutch assets to KLM Royal
Jet Airways may sell its Netherlands business to KLM Royal Dutch Airlines outside the insolvency process being undertaken in India.
According to a stock exchange filing, the debt-strapped Jet Airways and the flag carrier of Netherlands have “entered into a conditional sale & purchase agreement” on January 13. According to reports, Jet will sell one aircraft and two erstwhile slots of Jet Airways at the Schiphol airport to KLM Royal Dutch Airlines.
The deal, however, is subject to conditions. The proceeds from the deal will be used to settle debt of entities in Netherlands.
Jet Airways went belly up in April last year after which the company’s lenders dragged it to the insolvency tribunal in Mumbai to recover unpaid dues.
