Jet Airways signs pact with KLM to liquidate Netherlands assets

Jet Airways Ltd has entered into a conditional sale and purchase agreement with KLM Royal Dutch Airlines to liquidate the assets of the bankrupt airline in the European country. The liquidation process in the Netherlands is being monitored by a Dutch trustee appointed by a local court.

The pact was signed on 13 January, Jet Airways said in a regulatory filing.

“The proposed resolution is subject to the completion of several conditions, including statutory and regulatory clearances, both under the Indian and Dutch laws,” the airline said.