CityJet is set to change hands after the High Court signed off on a fiercely contested €40 million restructuring package — dubbed a “hostile takeover” by the airline’s current owner. Under the rescue scheme devised by joint examiners Kieran Wallace and Andrew O’Leary of Interpath, Danish aviation investor Lars Thuesen, through his company JT3H, will take a 92 per cent stake in the regional carrier via a €3.2 million equity injection. Thuesen owns the airline Jettime and holds a minority interest in Air Baltic. The plan provides €30 million in cost savings and working capital support over three years, along…

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