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Last Updated : Jan 17, 2020 08:41 PM IST | Source: Reuters

Dutch player KLM to buy Jet Airways' assets in the Netherlands

What assets it holds in the European country and which would be part of the deal were not specified.

 
 
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Jet Airways on January 16 said that it has agreed to sell its assets in the Netherlands to Dutch airline KLM. What assets it holds in the European country and which would be part of the deal were not specified.

"If the deal is finalised, it will only involve a sale of part of the company's business and not impact the shareholding pattern," a statement from Jet read.

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

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It was admitted to bankruptcy court in June after its lenders, led by State Bank of India (SBI), 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.

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First Published on Jan 17, 2020 10:15 am
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