Tuesday, May 7, 2013

■ KENYA: Jetlink Express faces liquidation as FineJet takes it to court over $1.2million in unpaid fuel bills.

Jetlink ExpressBankrupt Kenyan regional operator, Jetlink Express (J0), grounded since November owing to a liquidity crunch, is facing an uncertain future as reports out of Nairobi state that fuel supplier, FineJet, is seeking to have the company wound up following its failure to settle outstanding fuel bills that amount to USD1.2million (KES10million).

Jetlink ExpressIn a notice, creditors who wish to support or oppose a pending winding-up court case filed by Finejet, have been requested to appear in court on Friday.
"Any creditor or contributory of the said company desirous to support or oppose the making of an order on the said petition may appear at the time of hearing in person or by his advocate for the purpose," said the gazette notice in part.
Source [The Star]

Finejet filed the case after some cheques issued to it by Jetlink, bounced.

Jetlink ceased operations last year after foreign currency remittance restrictions in South Sudan effectively cut off the Kenyan carrier from USD2million needed to keep operations running. As a result, GA Mexico Crj Limited, one of the airline's creditors, have seized four of Jetlink’s CRJ200 jets claiming they were owed USD4'948'792 in overdue rentals (said to be due from September).

Earlier this year, it was reported that potential investors had been courted - amongst whom was fastjet(FN) -  who sought to have the carrier back in the skies by late March but to no avail.