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Aerosvit Bankruptcy  
User currently offlineapruzesse13 From Ukraine, joined Dec 2012, 33 posts, RR: 0
Posted (1 year 6 months 1 week 1 day 22 hours ago) and read 22798 times:

Aerosvit "filed for bankruptcy
01/03/13
ImageNa website Uniform register of court decisions in Ukraine was reported decision by the judge of the Commercial Court in the Kiev region decision to initiate proceedings in the bankruptcy. Application has been submitted PJSC "Airline" Aerosvit "in the manner prescribed by the Law of Ukraine" About restoring the solvency of the debtor or the recognition of his bankruptcy. "

Together with a statement the airline put a certificate stating that the total amount of debt owed to creditors amounts to 4 270 million hryvnia, while the value of a business - 1 427 million hryvnia. In this regard, the simultaneous execution of creditors impossible.

The decision was taken on December 29.

Also on 29 December, the Office of the Economic Court of Kyiv region has been filed about the appointment of the liquidator, as which "Aerosvit" offers Talana Leonid. And this Court granted the application. Appointed the liquidator must make an inventory of the property of the company and submit this information to the court.

The next hearing will take place on January 23, 2013.

63 replies: All unread, showing first 25:
 
User currently offlineBasilFawlty From Netherlands, joined Jun 2009, 1310 posts, RR: 1
Reply 1, posted (1 year 6 months 1 week 1 day 22 hours ago) and read 22717 times:

Does that include Dniproavia, Donbassaero and Wind Rose? And are they still operating flights?


'Every year donkeys and mules kill more people than plane crashes'
User currently offlineredzeppelin From United States of America, joined Feb 2012, 537 posts, RR: 0
Reply 2, posted (1 year 6 months 1 week 1 day 21 hours ago) and read 22423 times:

If you do the conversion, the court filings indicate debts of $530M, and places the value of the company at about $177M (both in USD).

Their website still looks like business as normal, but they have just been banned from SVO due to debts owed there, and another recent thread indicated lots of flights were getting cancelled:

http://atwonline.com/airports-routes...s-ukrainian-aerosvit-airlines-0103
Aerosvit Going Under? (by An225 Dec 23 2012 in Civil Aviation)

[Edited 2013-01-03 15:14:24]


Happiness is rediscovering a forgotten L-1011 in your flight log.
User currently offlineBOACCunard From United States of America, joined Dec 2009, 864 posts, RR: 1
Reply 3, posted (1 year 6 months 1 week 1 day 19 hours ago) and read 22095 times:

A friend of mine flew JFK-KBP-TLV on VV about a week ago... So the airline was already in bankruptcy at the time he flew it... :p

I didn't know he was flying VV until after he made it to TLV. Knowing that VV was having trouble, I was happy to hear that he got there and doesn't have any more VV flights booked.



Getting There is Half the Fun!
User currently offlineSukhoi From Sweden, joined May 2006, 373 posts, RR: 8
Reply 4, posted (1 year 6 months 1 week 1 day 19 hours ago) and read 22058 times:

ARN - KBP delayed until 01.00 from 16.00. I think they have too pay cash at ARN because of debts.

User currently offlineF9animal From United States of America, joined Dec 2004, 4971 posts, RR: 28
Reply 5, posted (1 year 6 months 1 week 1 day 13 hours ago) and read 21045 times:

Wow! This is sad news! Isnt Aerosvit one of the larger privately held carriers? Can the airline reorganize in bankruptcy there? Or does a bankruptcy there pretty much mean its over? Not familiar with Russian bankruptcy laws. I sure hope they survive, especially for the employees. Their service looks pretty nice too.


I Am A Different Animal!!
User currently offlineflyingbird From Sweden, joined Mar 2005, 163 posts, RR: 0
Reply 6, posted (1 year 6 months 1 week 1 day 12 hours ago) and read 20857 times:

Quoting F9animal (Reply 5):
Not familiar with Russian bankruptcy laws.

Aerosvit is a Ukraine airline with it's mane base in Kiev, Ukraine.


User currently offlineFreshSide3 From United States of America, joined Nov 2012, 213 posts, RR: 0
Reply 7, posted (1 year 6 months 1 week 1 day 12 hours ago) and read 20700 times:

The timing of this is bad, with Austrian pulling out of Donetsk, as well. Lufthansa has been selling out quicker. Turkish has a really erratic schedule on IST-DOK, too.....with one day the flight will be 725am, and the next day it will be 615p. Similar type of deal with LOT's JFK-WAW, to mention another factor. Also, some reduction in frequency on overwater flights to a hub with useful connections to Ukrainian cities OTHER THAN Kiev. As a result, a bit more difficult to find a routing that works AND has space.

User currently offlineIwantaBBJ From Switzerland, joined Jun 2002, 775 posts, RR: 4
Reply 8, posted (1 year 6 months 1 week 1 day 11 hours ago) and read 19684 times:
Support Airliners.net - become a First Class Member!

At the moment there are two flights operating:

AEW406 SVO-KBP
AEW262 IST-KBP

So the plug hasn't been pulled (yet)


User currently offlineBrusselsSouth From Belgium, joined Aug 2001, 623 posts, RR: 5
Reply 9, posted (1 year 6 months 1 week 1 day 11 hours ago) and read 19686 times:

I have flown Aerosvit on 4 distinct occasions (in 2010 and 2012), well, sort of since 3 out of the 4 flights were operated by their partner Dniproavia. The flights themselves were nothing bad (more or less on time and OK service, perhaps a bit of an outdated cabin on the 737).

However, for virtually every flight, the numerous (and sometimes dramatic) schedule changes (after I had booked) and poor automatic rebooking (connection leaving BEFORE inbound flight arrival) left me with the impression of poor scheduling procedures. Their online customer service was always helpful though.

Aerosvit gone would be a serious blow to the Ukrainian air travel market (and make KBP less colorful!).

Regards
BrusselsSouth


User currently offlinealespesl From Czech Republic, joined Jan 2004, 582 posts, RR: 2
Reply 10, posted (1 year 6 months 1 week 1 day 7 hours ago) and read 17835 times:

Quoting FreshSide3 (Reply 7):
The timing of this is bad, with Austrian pulling out of Donetsk, as well. Lufthansa has been selling out quicker. Turkish has a really erratic schedule on IST-DOK, too.....with one day the flight will be 725am, and the next day it will be 615p. Similar type of deal with LOT's JFK-WAW, to mention another factor. Also, some reduction in frequency on overwater flights to a hub with useful connections to Ukrainian cities OTHER THAN Kiev. As a result, a bit more difficult to find a routing that works AND has space.

Try Czech Airlines. They fly to DOK as well.



Next Flight: Oct 10: PRG-MUC-KIV EMB 195/CRJ 900, Oct 12: KIV-MUC-PRG CRJ900/EMB 195 wiht Lufthansa
User currently offlinePe@rson From United Kingdom, joined Jan 2001, 19186 posts, RR: 52
Reply 11, posted (1 year 6 months 1 week 1 day 7 hours ago) and read 17735 times:

According to CH Aviation, which refers to a statement by Kiev Borispol, Aerosvit has ceased operating at noon today. Their last flight was apparently to Copenhagen.

[Edited 2013-01-04 04:44:06]


"Everyone writing for the Telegraph knows that the way to grab eyeballs is with Ryanair and/or sex."
User currently offlineKiwiRob From New Zealand, joined Jun 2005, 7036 posts, RR: 3
Reply 12, posted (1 year 6 months 1 week 1 day 7 hours ago) and read 17458 times:

I can't say I'm sorry to see them go, they were a poor quality airline with terrible staff, so I can't even say I feel for the staff, they were probably part of the problem, I've had the misfortune to have to fly with the 5-6 times over the past few years.

User currently offlinebrilondon From Canada, joined Aug 2005, 4098 posts, RR: 1
Reply 13, posted (1 year 6 months 1 week 1 day 7 hours ago) and read 17324 times:

Quoting KiwiRob (Reply 12):

I can't say I'm sorry to see them go, they were a poor quality airline with terrible staff, so I can't even say I feel for the staff, they were probably part of the problem, I've had the misfortune to have to fly with the 5-6 times over the past few years.

I agree. They weren't very good as they always seemed to change the flight times and I rarely had any notice and I was generally not impressed by their service when they did fly you out on time. Don't even think about connecting on any of their flights, you would either arrive way too late to make your connection or your connection would leave early, real early with out you. Not a reliable way to travel to the oil fields in Siberia.



Rush for ever; Yankees all the way!!
User currently offlineB735 From Denmark, joined Oct 2010, 65 posts, RR: 0
Reply 14, posted (1 year 6 months 1 week 1 day 6 hours ago) and read 16802 times:

According to the Kiev Post the airline is not bankrupt, however Boryspil Airport have will not allow any take offs due to unpaid fee's:

http://www.kyivpost.com/content/ukra...to-absence-of-payments-318427.html

Same happened in Moscow and Lviv Airports earlier.


In another article the airlines refuses bankruptcy, maintaining they will fulfill their obligations:

http://www.kyivpost.com/content/busi...ilities-to-contractors-318439.html


B735


User currently offlinecedarjet From United Kingdom, joined May 1999, 8031 posts, RR: 54
Reply 15, posted (1 year 6 months 1 week 1 day 6 hours ago) and read 16652 times:

Sad for us, they were an unusual option for the Atlantic run, and to BKK / PEK - but the service was never very good - would it kill you to smile, or say thank you? So Europe's biggest country (by area) has no longhaul flights now? London and Dubai are the furthest you can fly from the capital, Kiev. Right?


fly Saha Air 707s daily from Tehran's downtown Mehrabad to Mashhad, Kish Island and Ahwaz
User currently offlineIwantaBBJ From Switzerland, joined Jun 2002, 775 posts, RR: 4
Reply 16, posted (1 year 6 months 1 week 1 day 5 hours ago) and read 16579 times:
Support Airliners.net - become a First Class Member!

Well, they say they're continuing to fly...

http://global.aerosvit.com/eng/index...infonew/aboutusnew/news/14279.html


User currently offlinesuperjeff From United States of America, joined Feb 2010, 226 posts, RR: 0
Reply 17, posted (1 year 6 months 1 week 1 day 4 hours ago) and read 15352 times:
Support Airliners.net - become a First Class Member!

Quoting cedarjet (Reply 15):
Sad for us, they were an unusual option for the Atlantic run, and to BKK / PEK - but the service was never very good - would it kill you to smile, or say thank you? So Europe's biggest country (by area) has no longhaul flights now? London and Dubai are the furthest you can fly from the capital, Kiev. Right?

Well, there is still another Ukranian airline based in Kyiv: Ukraine International. They fly primarily 737's and offer a tolerable service level. Are they going to take over some of the routes AeroSvit had monopolies on? It can be extremely difficult to get to Kyiv from a lot of places, including the U.S., and especially if you're heading to places other than Kyiv, such as Odessa, Lviv, etc.


User currently offlineAirPacific747 From Denmark, joined May 2008, 2370 posts, RR: 21
Reply 18, posted (1 year 6 months 1 week 1 day 3 hours ago) and read 14697 times:

It is NOT a banktruptcy yet. It is a reconstruction. Aerosvit wants to protect themselves from being declared bankrupt by their creditors. They are trying to reach agreements with their creditors to remove some of their debt.

The statement on their own website is misleading.

I know this from an inside source high up in the hierarchy.

[Edited 2013-01-04 09:27:22]

User currently offlineairlittoralguy From France, joined Nov 2005, 233 posts, RR: 0
Reply 19, posted (1 year 6 months 1 week 1 day 2 hours ago) and read 14580 times:

How can they survive if they are not allowed to fly from KBP ?

If they actually disappear these liveries ( Aerosvit, Donbassaero, Windrose) will be greatly missed. They were some of the best in the skies these days ...



Normandie : La r�©unification, maintenant ! http://www.mouvement-normand.com/
User currently offlineAirPacific747 From Denmark, joined May 2008, 2370 posts, RR: 21
Reply 20, posted (1 year 6 months 1 week 1 day 2 hours ago) and read 14560 times:

Also, this has no connection to the other Airlines owned by Kolomoyski just yet.

User currently offlineredzeppelin From United States of America, joined Feb 2012, 537 posts, RR: 0
Reply 21, posted (1 year 6 months 1 week 1 day 2 hours ago) and read 14134 times:

Quoting AirPacific747 (Reply 20):
Also, this has no connection to the other Airlines owned by Kolomoyski just yet.

Does that mean that Donbassaero and Dniproavia are unaffected? Can those carriers still operate at the airports where Aerosvit has been banned?



Happiness is rediscovering a forgotten L-1011 in your flight log.
User currently offlineAirPacific747 From Denmark, joined May 2008, 2370 posts, RR: 21
Reply 22, posted (1 year 6 months 1 week 1 day 1 hour ago) and read 13701 times:

Quoting redzeppelin (Reply 21):

As far as I know, yes. I used to work as a pilot for Wind Rose. AFAIK they are so far unaffected.


User currently offlinebbiter From Norway, joined Jan 2006, 33 posts, RR: 0
Reply 23, posted (1 year 6 months 1 week 1 day 1 hour ago) and read 13593 times:

Flew SIF-KBP on PS this morning, arriving at KBP at around 08:35. Noticed 3 VV 767s parked next to each other, iced over. Same thing with a bunch of VV 737s, 3 Dniproavia ERJ's and 2 Windrose A320's. No activity around any of these aircraft and they all looked as though they had been sitting there a few days already.

Later in the day (13:40) when i flew out of KBP on DY1521 to OSL, all the mentioned aircraft were still where I had noticed them in the morning.

Not looking too good for the group it seems.


User currently offlineairproxx From France, joined Jun 2008, 623 posts, RR: 0
Reply 24, posted (1 year 6 months 1 week 1 day ago) and read 13435 times:

One of their A32* was stuck in NCE this evening, saw it on the general aviation apron....


If you can meet with triumph and disaster, and treat those two impostors just the same
25 AirPacific747 : Could be a standard day though.. there are almost always at least three 767s parked at a remote stand there. But maybe you are right. Edit: A quick l
26 transaeroyyz : Why didn't they stick to thier core revenue flights, instead of this needless mass expanstion in this past year, which has led this downfall for sure.
27 reifel : Was in WAW today. VV to Kiev was suppose to leave around 3 PM. Flight is shown as "delayed". Check in counter was open and people were told that airli
28 redzeppelin : They are reporting debts of about $530M. Does anybody know anything about how that breaks down? They allegedly owe more than $5M to SVO for fuel and s
29 WROORD : I read that Ukraine Internations was taking over some of VV flights.
30 Skyeurope : VV208 from Warsaw is expected to arrive in Kiev at 23:53, so they did manage to leave WAW.
31 irshava : This will most likely mark the end of VV. PS will take over some of their routes. You know that things are going wrong when you owe money to domestic
32 irshava : Yes, some with missing engines, others simply not utilized.
33 g2scandinavia : According to a contact, CPH are holding back an aircraft this evening due to unpaid fees at the airport. Anyone know more?
34 JoeCanuck : That's one way to pay off your debts...just leave aircraft at airports where you owe money.
35 copenhagenboy : It is confirmed by the airport.
36 HT : Visually checked a moment ago (12:10h lt), the is a yellow and blue VV aircraft parked on a remote stand northwest of WAW's terminal building. Viewed
37 Skyeurope : It seems like this should have been yesterday's VV208 WAW-KBP, which was expected to arrive in Kiev at 23:53. Today this flight is shown as cancelled
38 B735 : CPH took a huge loos when Cimber Sterling collapsed last year. Cimber had, until the collapse, same owners as Aerosvit. According to the airport there
39 B735 : US$ 100.000 that is!
40 TimRees : This was UR-DAC an orange liveried A320 of Donbassaero. I taxied past her leaving NCE on 2.1.13
41 thunderboltdrgn : Accrding to Flightradar24;
42 WROORD : WAW is holding VV's 737 UK-KIV for unpaid bills.
43 apruzesse13 : UR-KIV is actually part of Dniproavia fleet, not Aerosvit
44 irshava : PS is in the process of negotiating the labor of part of Aerosvit's cabin crew and are (supposedly) in talks to acquire some of the newer members of t
45 apruzesse13 : Classic Ukrainian scheme! UIA is owned by same owner as Aerosvit. You transfer the good assets to UIA, leave the debt in Aerosvit and you continue as
46 HT : It was funny to see today that LO's flight between WAW and KBP still has a VV-code on WAW's departure board. -HT
47 Post contains links BOACCunard : There's a statement on UIA's web site saying that isn't true, though that doesn't necessarily mean it isn't...
48 reifel : Strange, the aircraft was still sitting today in WAW on a remote position without any activity. Probably no one wants to cater/refuel/let them go. Wh
49 irshava : PS was owned by Austrian Airlines up until 2 weeks ago when the company was sold to a Cypriot based corporation.
50 prebennorholm : Not if they are declared bankrupt. That's at least not how it works here. CPH can hold the plane for unpaid fees only while Aerosvit is a running com
51 Thomas_Jaeger : I am pretty sure this is the case. As soon as Ontobet Promotions had taken full control of PS (before the acquisition even was made public), they sta
52 Post contains links Thomas_Jaeger : I have done some more research on this today (summarized here: http://www.ch-aviation.ch/portal/airline.php?cha=VV) 1) Donbassaero is no longer flying
53 Bralo20 : Isn't PS partially owned by Lufthansa? I thought to have read somewhere that Lufthansa holds a stake of 20 to 25% in the company?
54 Thomas_Jaeger : Austrian used to know a stake around these numbers but now UIA is fully controlled by Ontobet Promotions from Cyprus that is likely owned by unknown U
55 HT : Monday, 07-JAN around 1300h door 1L was open and airstairs were attached. Might WAW also act as a safe haven for the aircraft i.e. out of reach of ba
56 Skyeurope : @Reifel Yes, they did not leave WAW. I have no idea why they showed an expected arrival time on kbp.aero.[Edited 2013-01-08 10:22:02]
57 prebennorholm : Remove the ")" in the tail end of the link, then it works.
58 Post contains links BOACCunard : UIA's ownership structure seems opaque to say the least. According to FlightGlobal, when the airline was privatized in 2011, its two biggest sharehol
59 alfa164 : AeroSvit apparently announced discontinuation of KBP-JFK permanently, even if it continues to fly some routes. I just wonder if this might lead DL to
60 redzeppelin : I wouldn't be surprised if KBP airport, the city or Kiev and/or the Ukrainian government already dispatched a delegation to ATL. UA might be a possib
61 reifel : I agree, however you may serve all (if not more) beyond KIEV destinations with i.e. a partner like OS from VIE.
62 redzeppelin : Sort of. Let's look at the biggest markets outside of Kiev, and the service they have from major alliance carriers (info from Wikipedia -- apologies
63 irshava : I don't understand why - flights in the summer were always full with the minimum ticket price being 1100$ and flights during other seasons were alway
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