Cpt. Caveman From Belgium, joined Nov 2001, 70 posts, RR: 0 Posted (13 years 4 months 1 week 3 days 9 hours ago) and read 1100 times:
DNG, Wednesday, 19th of December
(Belgian news paper)
BRUSSEL: The Brussels commercial court has given the airline DAT some breading space, by not declaring the Sabena - daughter "SIC" bankrupt.
A bankruptcy for SIC, would also mean a bankruptcy for DAT.
DAT has big debts with SIC, but hopes at the same time, an investment by the creditors.
A new judicial agreement, that would protect SIC from it's creditors isn't adjudged by the court.
There is a new demand, with this demand SIC would be safe for fourteen days.
If DAT is going to survive this once again, will stay unclear.
The way business is now, the kandidate-investors have a shortage of capital.
The DAT-management also stopped last week the co-operation with Virgin Express.
Passengers where upset, because due to the cancelation, they got stucked at the airport for a while.
Virgin was sad, by the decission of DAT.