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Aerosvit Airlines Files For Bankruptcy May
Suspend Operations |
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January 4, 2013 - AeroSvit Airlines has filed a
petition with the Kyiv Regional Commercial Court
to initiate bankruptcy proceedings for the
purpose of commencing reorganization procedure,
restoring solvency and ensuring fulfillment of
commitments to its creditors in full.
AeroSvit Airlines, operating as AeroSvit
Ukrainian Airlines and АероСвіт, is one of the
Ukrainian flag carriers. Its head office is on
the grounds of Boryspil International Airport in
Boryspil, Kiev Oblast, Ukraine.
AeroSvit operates currently the largest network
(among other Ukrainian carriers) of scheduled
international flights. |
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Performing scheduled domestic and international
services directly or by code share to over 72
destinations including long-haul international
services to China, India, Thailand, Canada, USA,
Sri Lanka and Vietnam, as well as charter
services. Its main base is Boryspil
International Airport, Kiev.
On December 29th, 2012, Kyiv Regional Commercial
Court decreed to commence bankruptcy proceedings
regarding Private Joint-Stock Company "AeroSvit
Airlines". However, as of today the airline
is not bankrupt, as AeroSvit Airlines has not
suspended its operations and will continue to
fulfill its current commitments to its
contractors.
The airline's management remains unchanged and
keeps functioning, with all procedures assuring
normal operational activities, including flight
safety assurance, being carried out in full
extent. Planned company's
reorganization forms part of the change program
initiated by the airline in order to restore its
operating efficiency and increase revenue
inflows.
Back in the first week of December the carrier
began gradually restoring payments according to
the schedule agreed with operators of provided
services. In particular, on Wednesday, December
5, the airline paid off most obligations for air
navigation services in Russian Federation
airspace, made regular payments for services in
several airports.
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