Air Lib announced that the Commercial Court of Paris has upheld its claim that Crossair--now part of swiss--which changes its name to Swiss International Air Lines on July 1, is obliged to pay debts owed by failed Swissair.
Air Lib, formerly known as AOM Air Liberte, argued that Crossair is the successor of SAirGroup and therefore liable for commitments made by SAir to Air Lib. SAirGroup had a 49% stake in Air Lib.
The French carrier is claiming nearly eur61 million ($56.5 million) from Crossair, including eur22.4 million for AOM Air Liberte-issued tickets that were not used by passengers and eur38.1 million equaling the outstanding balance of its divestiture agreement with SAirGoup. Crossair said it will appeal the ruling.
This is good news - and bad - for SNBA as it opens the door to claims for the €210 million that Swissair owed it; but at the same time, it establishes a precedent that Sabena's debts can be recovered from SNBA.