SkyEurope

SkyEurope Airlines, as, shortly SkyEurope, was an Austrian- Slovak low-cost airline headquartered in Bratislava. She was a 100 - percent subsidiary of SkyEurope Holding AG, based in Austria. SkyEurope reported in the year 2009 bankruptcy and was liquidated in a row.

History

Development since 2001

SkyEurope was established in 2001 and commenced on 13 February 2002 the flight operations. Financing is provided with funds from the EBRD, ABN AMRO Bank and the European Union. The fleet initially consisted of a single Embraer EMB 120, with which the connection from Bratislava to Košice was recorded in eastern Slovakia. By and by another three Embraer same type were added. In July 2003 the fleet around the first of the first seven Boeing 737-500 was extended.

On 27 September 2005, the IPO of Sky Europe Holding AG in the Vienna and Warsaw stock exchanges. This SkyEurope was the first (and so far the only, ) airline that was listed in Warsaw. Prior to the IPO were the largest shareholders East Capital funds with 16.72 % and the European Bank for Reconstruction and Development 16.03 - % shares. The largest individual shareholders were Christian Mandl with 8.53%, 8.31%, and with Peter Struhár Alain Skowronek with 8.19%.

The Embraer EMB 120 were returned in early 2006 to the leasing company and retrained their crews on the aircraft of type Boeing. With commissioning of the first Boeing 737-700 in March 2006, the company logo, the exterior paint of the aircraft as well as the uniforms of the cabin crew was revised and modern designed.

In June 2006, a capital increase of up to 20 million shares was approved at an extraordinary general meeting, which, however, made ​​publicly for legal reasons - the share price at the relevant time less than the nominal value - was not carried out. In August 2006, introduced a new financing concept and approved by a further extraordinary general meeting: The financial investor York Global Finance II participates with 38.8 million euros, partly shares and partly through convertibles. In addition, 10 million shares to 1.75 euros each were offered to the public.

The end of September 2008, SkyEurope arrears to the Slovakian social security in the amount of about one million euros.

For January 8, 2009 GECAS has terminated leases for six aircraft. The aircraft in question were returned to GECAS.

Bankruptcy in 2009

On 22 June 2009, the airline reported at a district court in Bratislava bankruptcy. Since the same day an airplane ( 737-700; OM- NGN) was the Company's decision by a French court - unlawfully and, according to company officials - held at Paris- Orly airport to serve as collateral for outstanding debts of the airline. Similar happened at Bucharest airport, where two machines - were arrested - here but only temporarily.

Jason Bitter resigned from his position as CEO of SkyEurope Airlines as July 3, 2009 by mutual agreement travels. The deputy CEO Nick Manoudakis became the new CEO of SkyEurope Airlines as appointed.

SkyEurope 2008-2009 had two loans of hedge funds York (15 or 10 million euros ). The maturity for both loans was extended from June 15, 2009 on 15 July 2009.

Since end of July 2009 was the promise of SkyEurope co-owner Focus Equity BV to increase its stake in the airline up to 16.5 million euro - on the condition that the ongoing restructuring of SkyEurope Airlines comes to a successful conclusion and the Austrian Takeover Commission raises no objection. In addition, the airline was provided a loan from a UK lender in view This credit would be reached only after completion of the restructuring process for disbursement.

In mid-August 2009, Sky Europe airport charges in Vienna and salaries do not pay in full. On 11 August 2009, Vienna International Airport has several SkyEurope flights not released due to pending bills. 700 passengers were stuck at the airport for hours. SkyEurope have not paid the bills despite reminders and deadlines, so the Vienna International Airport. Now SkyEurope was a final deadline set: If the airline until August 14 15 clock not pay all outstanding and overdue receivables, the airport services a. However, that period could not comply Sky Europe - the confirmation of the payment of the outstanding invoices is 15:20, ie 20 minutes after the deadline arrived. Vienna International Airport has accordingly set the handling of departing from this airport SkyEurope aircraft initially on August 14; according to statements by SkyEurope, the Company (August 17, Booth ) but no more than before from Vienna to fly out. The passengers were transferred to a shuttle bus from Vienna airport to Bratislava airport and flew from there.

Notwithstanding the fact that Sky Europe writing in a FAQ and in August in a press release a positive financial development and the launch of the winter timetable 2009/2010 announced in June, the company had to cease all flights on 31 August 2009, at the Prague airport. Shortly after the flight has stopped in Bratislava. That same day, provided the trustee to file for bankruptcy; Flight operations has since been set final. Also based in Austria Sky Europe Holding came through the insolvency of the airline in Liquidätsprobleme and also had to file for bankruptcy. It was opened on 1 October 2009 at the Regional Court Korneuburg.

Bankruptcy proceedings on SkyEurope has been set for lack of assets on 21 December 2009, the decision was finally confirmed again in May 2010 and rejected appeals.

Objectives

With initially only a single Embraer 120 only domestic route Bratislava - Košice was originally flown. In addition to the home airport in Bratislava other locations in Prague were ( after the acquisition of Fischer- Air in 2005) and in Vienna. The locations of Budapest and Krakow were disbanded for the winter flight schedule 2007 /08 to thread the capacity to Vienna, the site of Warsaw was disbanded in 2005. Budapest was of particular importance, as this was a partially independent company headquarters with its own aircraft and certificates and formally " SkyEurope Hungary" was called. Besides these various cities, especially Western European airports were served. The Austrian domestic route from Vienna to Innsbruck and back was operated several times a day during the winter schedule, but this route was discontinued due to harsh financial losses. There were also some destinations in the Mediterranean, which were served during the summer months charter flights.

In Germany, Cologne / Bonn, Berlin and Stuttgart between time served, in Switzerland, the route Basel.

SkyEurope was the first Eastern European low cost airline ( headquartered in a new EU country ), which maintained a base in an "old" EU country with Vienna.

Fleet

Until the termination of flight operations on August 31, 2009, SkyEurope fleet consisted of 13 planes:

  • 07 Boeing 737-300
  • 02 Boeing 737-500
  • 04 Boeing 737-700

The maintenance of the fleet takes place at KLM Engineering & Maintenance in Amsterdam and Austrian Airlines Technology in Vienna, minor inspections and repairs were carried out by our own maintenance staff in Bratislava where private parts warehouse has been set up for this purpose.

Basic Information

Awards

  • In a July 2008 until August 2007 conducted by Skytrax survey SkyEurope was voted best low cost airline in Eastern Europe.
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