Indonesian court declares Batavia Air bankrupt months after AirAsia aborted deal to buy
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.
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Posted: 1 Feb 2013 19:36:15