WILLEMSTAD - JetAir has found a solution to its recent bankruptcy, announcing plans to restart operations under a new owner. Following last week’s declaration of insolvency, JetAir, also known as United Caribbean Airlines BV, is set to resume its services.
On Monday, the law firm HBN Law & Tax informed the Minister of Economic Development about the restart plan through an official letter.
Last Friday, trustees engaged in discussions with the Prime Minister and the Minister of Justice, among others. These talks underscored JetAir’s significance to Curaçao, particularly its vital role in employment, tourism, and regional connectivity, especially concerning the ABC islands. Both the government and the trustees concurred that a restart is in the public interest.
Several potential buyers have expressed interest in acquiring JetAir. Meetings with these candidates are scheduled for the coming week. Following these discussions, the trustees will compile a bid book, detailing the rules and procedures for the sale process.
In line with standard bankruptcy proceedings, JetAir will be sold "as is where is" and without guarantees. The party that meets all the criteria and presents the best offer will be given the chance to continue JetAir's operations, pending approval from the supervisory judge.
The trustees, along with the government and the director of the Social Insurance Bank (SVB), have also requested approval to lift the bankruptcy in their letter. If all creditors consent, the judge is expected to rule the process justified, thereby lifting the bankruptcy. The trustees will then transfer the assets and licenses to the new operator, allowing JetAir to become operational once again in Curaçao.