Adds background
Adds background
BENGALURU, Jan 17 (Reuters) – Bankrupt Indian airline Jet Airways Ltd JET.NS stated it had agreed to promote its belongings in Netherlands to Dutch airline KLM.
If the deal is finalised, it is going to solely contain a sale of a part of the corporate’s enterprise and never affect the shareholding sample, Jet stated in a press release dated Jan. 16. It didn’t element the belongings held in Netherlands.
As soon as India’s greatest non-public provider, Jet stopped flying in April after operating out of money, leaving 1000’s with out jobs and pushing up air fares throughout the nation.
It was admitted to chapter court docket in June after its lenders, led by State Financial institution of India SBI.NS, didn’t agree on a revival plan.
KLM, a a part of Air France KLM AIRF.PA, was as soon as codeshare companions with the defunct airline and within the wake of Jet’s collapse had added flights to India.
(Reporting by Chandini Monnappa in…