Kenya's Jetlink Express (J0), grounded since November last year, has managed to convince 70% of its unpaid creditors to accept a business recovery proposal which would see the Kenyan domestic and regional carrier back in operations come October 1, though one, Kenya's Equity Bank, has remained adamant that it wants to see the bankrupt airline wound up and its debt of USD8.1million settled forthwith.
Tuesday, July 23, 2013
Wednesday, June 12, 2013
■ KENYA: Jetlink Express pitches debt-restructuring deal to creditors as means of returning to operations.
Jetlink Express (J0), the bankrupt Kenyan regional operator, has attempted to offer its various creditors shares in a recovery plan, set to be funded by CFC Stanbic Bank.
Tuesday, May 7, 2013
■ KENYA: Jetlink Express faces liquidation as FineJet takes it to court over $1.2million in unpaid fuel bills.
Bankrupt 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).