WILLEMSTAD--Agreement has been reached between InterCaribbean Airways and the parties negotiating for Curaçao aviation company InselAir.
InterCaribbean will buy the shares of InselAir for US $1 each and guarantee the outstanding US $11.5 million that InselAir still has stuck at Venezuelan foreign exchange agency Cadivi for tickets sold in the neighbouring country’s Bolivar currency.
Two-thirds of more than 1,200 creditors of the financially-troubled Dutch Caribbean airline must now agree to this as well. They will then all receive their outstanding monies up to a maximum of NAf. 3,000.
Bankruptcy trustee Rogier van den Heuvel calls it the best possible deal. By December 4 it will be known whether the creditors agree.
