SkyEurope with SAPO may have a new lease on life - perhaps as a luxury LCC
News this week that SkyEurope may have found a new investor could be just what the Central European LCC needs. The carrier has not made a profit since it started flying in 2002. It listed on stock exchanges in Vienna and Warsaw in Sep-05 and has recently been running out of cash. [1112 words]
Unlock the following content in this report:
- Cash balance was looking precarious
- Further concerning signs in Oct/Nov-08; Credit card issuer of concern
- Significant capacity reduction in Nov-08
- Base consolidation and operational restructure showing some signs of success
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