How is the Jet Airways airline doing
The planes of the Indian airline Jet Airways have not taken off since April 15, but the airline has repeatedly emphasized that the financial problems and thus the grounding are only temporary until an investor is found. A Dutch court sees it differently and has now declared the airline bankrupt.
Jet Airways operates an office at Schiphol International Airport in Amsterdam, which is why a Dutch court had jurisdiction. A Dutch insolvency administrator has already been appointed.
The settlement of Jet Airways is unlikely to be easy, as airline boss Vinay Dube and CFO Amit Agarwal have already resigned, as reported by the Aerotelegraph portal.
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The proceedings are still ongoing in India, where the airline is fighting against an impending bankruptcy. Employees have been taking to the streets for weeks because they fear unemployment. The judgment from the Netherlands is internationally valid, but it is unclear whether India will recognize it. Because there the airline is still trying to reach an agreement with the creditors.
At the beginning of April, an aircraft was arrested and confiscated at Schiphol Airport at the behest of the freight company WFS because the airline had outstanding payments that it did not meet. Jet Airways is said to have a total of $ 1.2 billion in debt.
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