1-Sep-2009 10:57 AM

SkyEurope Airlines files for bankruptcy, suspends operations

SkyEurope’s Slovak court-appointed restructuring trustee filed (31-Aug-09) for the opening of bankruptcy proceedings of the airline, due to the "lack of sufficient interim funding to finance ongoing operations". All services and sales have been suspended with immediate effect. The carrier added that if passengers paid directly to SkyEurope in means other than a credit card, a "refund may not be possible". [more - Stock Exchange Filing] [more - London Luton] [more - SkyEurope]

Prior to the filing, Prague International Airport stated (31-Aug-09) it would cease providing services to SkyEurope from 01-Sep-09, "until such time as regular agreed prepayments are reinitiated". The airport added that "if cash is delivered during the course of the day tomorrow, our company is prepared to immediately reinitiated provision of services up to the amount of the deposit paid". [more - Prague Airport]

SmartWings and Wizz Air separately stated (31-Aug-2009) they would offer alternatives for affected SkyEurope passengers as follows:

Wizz Air: "This was certainly to be expected. The event underlines the critical importance of strong cost control and strong liquidity position, especially in times of financial crisis. Wizz Air has the track record of rescuing passengers left stranded by failing carriers and here we are again to restore customer trust in low cost air travel," John Stephenson, Executive VP. Source: Company Statement, 31-Aug-09.

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