Jet Airways planning to sell Netherlands business to KLM Royal Dutch Airlines

17 Jan 2020 Evaluate

Jet Airways is planning to sell its Netherlands business to KLM Royal Dutch Airlines. The domestic full-service carrier, which shuttered operations in April 2019, is undergoing insolvency resolution process.

In this context, the company and Dutch trustee have entered into a conditional sale and purchase agreement with Koninklijke Luchtvaart Maatschappij NV, on January 13, 2020, for the proposed resolution of business activities of the company in the Netherlands as approved by the committee of creditors.

The proposed resolution is subject to the completion of several conditions including statutory and regulatory clearances, both under Indian law and Dutch laws. If completed, the transaction would only involve a sale of part of the Jet Airways business activities and would not impact the shareholding pattern of the company in any manner.

Jet Airways (India) is India’s premier international airline, which operates flights to India and overseas.

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