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2-Sep-2009 11:15 AM

SkyEurope files for bankruptcy following breakdown of bridge financing facility

SkyEurope stated (01-Sep-2009) its bridge financing facility, an attempted remedy to the carrier's liquidity shortfall, was not funded at the last moment, prompting the carrier to file for bankruptcy and suspend operations. Following this development, SkyEurope's trustee, appointed by the Slovak court to oversee the restructuring process, assessed that the company did not have sufficient funds for sustaining operations. This has come about after recent actions of suppliers and reduced passenger bookings and traffic revenue. [more - SkyEurope]

Meanwhile, carriers operating overlapping routes have announced the following deals for affected passengers: