Flylal And SkyEurope The Next To Go? — Civil Aviation Forum

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Flylal And SkyEurope The Next To Go?

Delta777Jet From Germany, joined Jun 2000, 1131 posts, RR: 3
Posted (4 years 4 months 1 week 6 days 19 hours ago) and read 6455 times:

FlyLal has been sold today to SCH Swiss Capital Holdings, they say its a investment company who will invest all the required funds and claim that the debts are not a problem for them. Checking Switzerland company register it appears that this so called investment company just been setup on 23 December 2008 with a capital of 100.000 CHF Smile Means that FlyLAL (Lithuanian Airlines) will disappear ?

SkyEurope needed to return today several 737's to GE the lessor as they terminated the lease agreement with Sky Europe. Does this has any impact on the already struggling airline ?
SkyEurope has a nice product and a team behind the company. I read that the pilots already accepted not to get paid for several months. What impact has this on the company ?

Fly easyJet

13 replies: All unread, jump to last

Danny From Poland, joined Apr 2002, 3482 posts, RR: 2
Reply 1, posted (4 years 4 months 1 week 6 days 18 hours ago) and read 6361 times:

Quoting Delta777Jet (Thread starter):
SkyEurope needed to return today several 737's to GE the lessor as they terminated the lease agreement with Sky Europe. Does this has any impact on the already struggling airline ?

I guess having almost half of the fleet repossessed will have an impact. On the other hand NE has been hanging on the edge for quite a while... and they're good at hanging.

FLIEGER67 From Turkey, joined Sep 2003, 4387 posts, RR: 57
Reply 2, posted (4 years 4 months 1 week 6 days 18 hours ago) and read 6312 times:

I´ve checked VIE flightstats for some interesting leased in planes.

But:
Most NE flights ontime today, some delays, some ahead to schedule,
all flights operated by 73W aircraft. Sounds not like a big problem today with that
lost aircraft.

Markus (FLIEGER67)

Next: Exploring Istanbul both ways!.

SAAB900 From United Kingdom, joined Sep 2007, 479 posts, RR: 0
Reply 3, posted (4 years 4 months 1 week 6 days 17 hours ago) and read 6262 times:

Flylal And SkyEurope The Next To Go?
WILL YOU LOT GIVE SKY EUROPE A BREAK!! hissyfit

They're a good airline with a good product! Tell me how many airlines aren't struggling at the moment?

Quoting Danny (Reply 1):
On the other hand NE has been hanging on the edge for quite a while... and they're good at hanging.

Yes they are thank god! People have been writing them off for the last god knows how many months, but they're still here! Smile

Quoting FLIEGER67 (Reply 2):
Sounds not like a big problem today with that
lost aircraft.

IIRC Markus some of their 73W's were going back this winter anyway or being leased out due to the dropping of some schedules for the winter season! So this shouldn't be too much of a problem for them! If they can get through this winter then they will be able to make it through anything! pray

Does anybody know which aircraft has gone back?

Dave(SAAB900)

PRGLY From Czech Republic, joined Dec 2004, 494 posts, RR: 1
Reply 4, posted (4 years 4 months 1 week 6 days 17 hours ago) and read 6218 times:

Most of the SkyEurope flight from Prague heavy delayed today (same of them 4-5 hours). ATH operated by Dubrovnik Airline, LTN by Air Slovakia. Another leased aircraft (Seagle Air, DanubeWings and MapJet) provided SkyEurope delayed flights from Bratislava... Only 5 73W aircrafts from 14 remaining now.

just fly - it is nice

BmiBaby737 From United Kingdom, joined Jun 2005, 1636 posts, RR: 10
Reply 5, posted (4 years 4 months 1 week 6 days 16 hours ago) and read 6161 times:

These aircraft have already left the fleet:

OM-NGA
OM-NGH
OM-NGL
OM-NGM

...and the only aircraft picked up flying today by Acarsd were:

OM-NGG
OM-NGP
OM-NGQ
OM-NGN

Per Skyeurope website:

Quote:
Bratislava/Vienna 9 January 2009
SkyEurope announces that GECAS has terminated the leases for six aircraft leased by SkyEurope
Airlines a.s. as of 8 January 2009 and that the aircraft have been returned to GECAS. The aircraft
capacity has been replaced and SkyEurope continues to operate all scheduled flights.

[Edited 2009-01-09 15:12:16]

LukasVIE From Austria, joined Jan 2009, 23 posts, RR: 0
Reply 6, posted (4 years 4 months 1 week 6 days 14 hours ago) and read 6041 times:

Quoting Preliminary Financial Results for the FY 2008 SkyEurope:
At the date of these financial statements, material uncertainties exist
regarding the Group’s ability to continue as a going concern. These material
uncertainties relate to the impact of historical operating losses as indicated in the
consolidated income statements for the current year and for the prior period,
negative cash flows from operations as indicated in the consolidated cash flow
statements and the ability to generate positive cash flows and obtain further
financing to fulfil its working capital commitments if cash on hand at 30 September
2008 will not be sufficient to meet working capital requirements and to comply with
covenants of operating leases.

Just take a look at their financial data...
They have a strong negative Cash-Flow from operating activities ( -37 mil. euros)
It is a miracle that they are still flying

I wouldn't book a flight with them at the moment, which is sad because I think that they are one of the best LCC in Europe

[Edited 2009-01-09 16:52:07]

Delta777jet From Germany, joined Jun 2000, 1131 posts, RR: 3
Reply 7, posted (4 years 4 months 1 week 6 days 7 hours ago) and read 5944 times:

The Wet Leases will most likely not help then either.
Sad to say, but with most of the planes gone it's very costly to keep up obligations towards customers who booked flights.

May be the solution is to shrink the schedule asap to the new fleet size and have therefore a better chance to survive by flying only the routes which bring some sort of profit, if such routes existing in the NE route network.

Any comments on FlyLAL Group ??

Fly easyJet

Alm1 From Lithuania, joined Oct 2008, 61 posts, RR: 0
Reply 8, posted (4 years 4 months 1 week 6 days 6 hours ago) and read 5901 times:

Flylal Group is ok. Not so the airline.

Flylal - Lithuanian Airlines - operates scheduled flights, has huge debts and almost no assets. This is a company that is being sold to that unknown swiss company (there are still uncertainties what company that is due to incomplete or erroneous spelling of its name in an official press release). But those buyers are promising to invest funds and keep it flying.

flyLAL Group Services is a separate company (only the owners were the same) that owns flyLAL Charters (which since several months has a separate AOC), flyLAL Technics, flyLAL Trainings and other companies. They have all the assets and some operating profit.

Disclaimer: This is a my personal opinion and may have no relations to actual facts.
(They have started a case against internet commentators slandering them so police may come to me otherwise).

Shanxz From Singapore, joined Apr 2006, 230 posts, RR: 0
Reply 9, posted (4 years 4 months 1 week 5 days 20 hours ago) and read 5433 times:

There's even been betting going on over the net on which airline will go bankrupt next! And SkyEurope is among the most likely too!

Airlines are in the service business, not transport. Brand matters...

Petertenthije From Netherlands, joined Jul 2001, 3231 posts, RR: 13
Reply 10, posted (4 years 4 months 1 week 5 days 18 hours ago) and read 5246 times:

Quoting Alm1 (Reply 8):
flyLAL Group Services is a separate company (only the owners were the same) that owns flyLAL Charters (which since several months has a separate AOC), flyLAL Technics, flyLAL Trainings and other companies. They have all the assets and some operating profit.

Interesting! Would this mean that if FlyLAL goes bankrupt they could do a Sabena/SNBA Swissair/Swiss move and start over using FlyLAL Group Services as a jumppoint?

Attamottamotta!

Thomas_Jaeger From Switzerland, joined Apr 2002, 2266 posts, RR: 31
Reply 11, posted (4 years 4 months 1 week 5 days 17 hours ago) and read 5140 times:

What aircraft are on the FlyLAL Charters AOC, just the 757s?

Swiss aviation news junkie living all over the place

Debonair From Germany, joined Jan 2004, 2098 posts, RR: 4
Reply 12, posted (4 years 4 months 1 week 5 days 15 hours ago) and read 5059 times:

Quoting Delta777jet (Reply 7):
Any comments on FlyLAL Group ??

FlyLAL is fighting with extreme overcapacity, like all Baltic airlines (e.g. Estonian) in winter. Plus, FlyLAL is having a hard time against Air Baltic (and all the law suits).

FlyLAL's future is now looking much brighter, leasing out some of their B737's to jettime and SCAT.

Hopefully in summer they will return back to the old roots...

Alm1 From Lithuania, joined Oct 2008, 61 posts, RR: 0
Reply 13, posted (4 years 4 months 1 week 5 days 8 hours ago) and read 4909 times:

Quoting Thomas_Jaeger (Reply 11):
What aircraft are on the FlyLAL Charters AOC, just the 757s?

It is difficult to tell - some aircraft are flown by both LIL (TE) and LLC (charters). But Charters uses a 733 daily.

All aicraft belong to AVIA Asset Management which is owned by flyLAL Group Services, so not much difference here.

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