Vfw614 From Germany, joined Dec 2001, 3340 posts, RR: 6 Posted (2 years 11 months 6 days 15 hours ago) and read 6133 times:
Sky Europe has filed for "Chapter 11" (Slovak proceedings akin to the US-style Chapter 11 insolvency. Trading of shares was temporarily suspended today.
Kiwiandrew From New Zealand, joined Jun 2005, 8308 posts, RR: 17 Reply 3, posted (2 years 11 months 6 days 15 hours ago) and read 6026 times:
really bad timing for OS as the EU Commission is still dithering over giving approval for the LH takeover . SkyEurope are probably OS biggest rival at VIE and the possibility of them going under may make the commission even more anti LH/OS than before .
I do hope that against all odds Sky Europe survive , I only flew them a couple of times but found them to be one of the more pleasant LCCs .
Moderation in all things ... including moderation ;-)
TANS From Czech Republic, joined May 2005, 134 posts, RR: 0 Reply 4, posted (2 years 11 months 6 days 5 hours ago) and read 5431 times:
According to the Czech TV station Nova (http://tn.nova.cz/zpravy/) one of their planes has been seized at ORY due to the airline not paying its debts to the airport.
According to their spokesman the whole incident is a “misunderstanding” which will be dealt with shortly as the French authorities don’t seem to be taking the insolvency filing into account.
On a similar note, NE don’t send any of their ‘own’ planes to the UK anymore for fear of the same happening here.
I feel like saying this is the beginning of the end, but considering how many times I’ve said it in the past (at much worse times for NE), I won’t!
PHKLM From Northern Mariana Islands, joined Dec 2005, 1198 posts, RR: 3 Reply 6, posted (2 years 11 months 6 days 4 hours ago) and read 5270 times:
Quoting TANS (Reply 4): I feel like saying this is the beginning of the end, but considering how many times I’ve said it in the past (at much worse times for NE), I won’t!
I was gonna say this, isn't NE the cat with (even more than?) nine lives? I'm surprised they didn't fail earlier.
BasilFawlty From Netherlands, joined Jun 2009, 1017 posts, RR: 0 Reply 7, posted (2 years 11 months 6 days 2 hours ago) and read 5125 times:
Quoting TANS (Reply 4): According to the Czech TV station Nova (http://tn.nova.cz/zpravy/) one of their planes has been seized at ORY due to the airline not paying its debts to the airport.
OM-NGN, which operated NE2304 PRG-ORY is still there. According to the ORY website the outbound flight NE2305 ORY-PRG is cancelled.
It's sad for NE, but I'm surprised they even made it to the summer season.
'Every year donkeys and mules kill more people than plane crashes'
WROORD From United States of America, joined Mar 2009, 606 posts, RR: 0 Reply 8, posted (2 years 11 months 5 days 23 hours ago) and read 4977 times:
Could not wait for them to vanish into aviation history...very unreliable airline. Flew once with them to FCO outbound flight delayed 3 hours, unscheuled stop in KRK for fuel, crew change made the delay even worse. On the way back delayed 10 hours with no info what so ever. Felt dorry for the FCO airport personnell as they were abused by angry passangers and they knew as much as we did.
They changes routes and bases so frequently that it was very hard to make any future plans and use their services.
TW741 From Liechtenstein, joined Sep 2004, 468 posts, RR: 0 Reply 9, posted (2 years 11 months 4 days 22 hours ago) and read 4634 times:
Quoting TANS (Reply 4): According to the Czech TV station Nova (http://tn.nova.cz/zpravy/) one of their planes has been seized at ORY due to the airline not paying its debts to the airport.
There was a second NE flight held back at another airport on Tuesday. Flight NE3203 SOF-VIE operated with a wet-leased MAP-Jet MD80 should have arrived VIE at 10:20am but landed only at 03:10pm after payment of airport charges (unknown to me if all outstanding charges had been paid or just the actual ones).
According newspapers NE has still outstandings e.g. at INN airport which they served from VIE between Oct07 and May08 - INN airport authorities have a pending claim against NE which is still unsettled.
Due to the broad (negative) publicity NE has since 2 days the bookings might go back very quick resulting in a missing cash position. Since NE is operating since a long time obviously only on the income of the advanced bookings they are going to run out of money soon.
On the other hand - a cat has 9 lifes - NE some more .....
TW741 From Liechtenstein, joined Sep 2004, 468 posts, RR: 0 Reply 10, posted (2 years 11 months 4 days 13 hours ago) and read 4438 times:
Besides the aircraft kept at ORY (still there) another airport has taken the same step. At BUH airport another NE aircraft was not serviced for a 11pm departure yesterday night - so 66 passengers had to return home instead of flying out of BUH.
According NE company speaker Roland Schranz the airline is just waiting for a "time frame" to fly the aircraft out of BUH.
Reported are unpaid bills at BUH of about 560.000€
Rumoured is also a short term "seizure" (meaning aircraft not being handled on ground) of some hours at Zadar Airport leading to delays of the following flight legs.
Most of the media in Austria and neighboring countries like Slovakia, Czech Republic or Hungary do print the same statements from NE speakers that "everything is just a misunderstandingg" and "that countries do not understand the Slovak restructuring law similar the US-Chapter 11" and "therefore do not comply with EU-law"......
PanHAM From Germany, joined May 2005, 6509 posts, RR: 25 Reply 12, posted (2 years 11 months 4 days 8 hours ago) and read 4154 times:
BUH Bucharest Romania
Nice phrasing "people do not understand the Slovakian Chapter 11"
To be honest, the only language everybody understands is cash. If someone from another country owes you money and you happen to have one of his assets in your yard you take it instead of lining up in some other countries bankcruptcy proceedings, take a number and get a quote eventually some years later, of a small percentage what you are owed, if you're lucky.
Looking at the questioning person's nick, you should have asked "QUE?"
I take the virtual slap on me face and say BBU Baneasa
What I forgot to mention, an insolvency is something carefully planned. Declaring chapter 11 means you have all your birds in your nest before you go out and tell the news.
PHKLM From Northern Mariana Islands, joined Dec 2005, 1198 posts, RR: 3 Reply 15, posted (2 years 11 months 4 days 7 hours ago) and read 4084 times:
Quoting PanHAM (Reply 14): What I forgot to mention, an insolvency is something carefully planned. Declaring chapter 11 means you have all your birds in your nest before you go out and tell the news.
Exactly, so you can write off your debt, start "SkyEurope II Ltd" and start all over again with the same assets, people and business, but without any debt. Having debt can make the difference between making a financial profit or loss at the end of the year.
So it might be just a transition to one of the new lives of NE, I sincerely hope not though, took em once, never again.
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