31 Jan '13, 10am

Indonesian court declares budget carrier Batavia Air (@bataviaair) bankrupt

Indonesian court declares budget carrier Batavia Air (@bataviaair) bankrupt

A Batavia Air plane prepares to land at the Sukarno-Hatta airport in Tangerang on the outskirts of Jakarta Jan 30, 2013. Indonesia's commercial court has declared budget carrier Batavia Air bankrupt just months after AirAsia, South-east Asia's top low-cost airline, aborted a deal to invest in it, officials said on Thursday, Jan 31, 2013. -- PHOTO: REUTERS JAKARTA (AP) - Indonesia's commercial court has declared budget carrier Batavia Air bankrupt just months after AirAsia, South-east Asia's top low-cost airline, aborted a deal to invest in it, officials said on Thursday. Jakarta Commercial Court Judge Agus Iskandar said a bankruptcy petition filed by United States-based International Lease Finance Corporation (ILFC) was approved on Wednesday after Batavia Air failed to pay a US$4.7 million (S$5.8 million) debt that was due on Dec 13. Flights abruptly stopped just after mid...

Full article: http://www.straitstimes.com/breaking-news/se-asia/story/i...

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