Low fare carrier SkyEurope Airlines announced today that it had voluntarily filed to reorganize under 'creditor protection'. The airline is the operating subsidiary of SkyEurope Holding AG, headquartered in Bratislava, Slovakia. A SkyEurope press release about the filing explained:
During the reorganisation, existing supplier agreements must be honoured by suppliers and by SkyEurope. Suppliers will be paid for goods and services received during reorganisation, but the company is protected from action by creditors to enforce payment of pre-existing debts. The objective is for SkyEurope to emerge from the period of creditor protection a stronger and financially stable business.The airline intends to continue to flying its scheduled and charter routes during reorganization.
Jason Bitter, Chief Executive Officer of SkyEurope, said, “This is a good step for SkyEurope because it means we will be able to operate without any disruption while we implement our reorganisation. It is good for our customers who may have full confidence in flying SkyEurope for holidays, city breaks, business travel, and friend and family visits. It is good for our suppliers who will be fully paid for goods and services provided during the reorganisation. And it is good for our employees because it allows us to preserve and protect jobs.”
