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Indonesian court declares Batavia Air bankrupt months after AirAsia aborted deal to buy

1 Feb 2013 19:36:15

washingtonpost.com

JAKARTA, Indonesia "” Indonesia's commercial court has declared budget carrier Batavia Air bankrupt just months after AirAsia, Southeast Asia's top low-cost airline, aborted a deal to invest in it, officials said Thursday.


Agus Iskandar, presiding judge at the Jakarta Commercial Court, said a bankruptcy petition filed by U.S.-based International Lease Finance Corporation was approved on Wednesday after Batavia Air failed to pay a $4.7 million debt that was due Dec. 13. Flights abruptly stopped just after midnight, stranding hundreds of passengers across the country.


Read full story: washingtonpost.com

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