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SkyEurope finds investor, securing €16.5 million

SkyEurope, a low-cost airline company based in Bratislava, has found a new investor, the TASR newswire was told on Friday, July 31, by Tomáš Kika of the company.

SkyEurope, a low-cost airline company based in Bratislava, has found a new investor, the TASR newswire was told on Friday, July 31, by Tomáš Kika of the company.

“Austrian investment group FOCUS Equity B.V. has signed an agreement with SkyEurope Holding AG [the parent company] on providing a new equity investment amounting to €16.5 million,” said Kika to TASR. One of the conditions set by the investor is the successful completion of the airline’s restructuring plan which has been in progress since late June.

SkyEurope Holding has also signed an agreement for a short-term loan worth €5 million with Chain Box Technology Ltd., which is registered in England and Wales. The low-cost carrier also has managed to prolong its operating licence.

“Today we launched the sale of air tickets for the winter timetable 2009/10 and we're offering 32 connections to 24 destinations in 17 countries in the winter,” said Kika.

SkyEurope has also completed signing a long-term leasing contract for two additional Boeing 737-300 aircraft. The low-cost carrier's fleet is now composed of four Boeing 737-700 new-generation machines, four Boeing 737-300 and two Boeing 737-500 aircraft.

SkyEurope was awarded protection from its creditors by a Bratislava District Court on June 22. The same court recently allowed the airline to carry out a restructuring plan in which it committed itself to securing a new investor. TASR

Compiled by Zuzana Vilikovská from press reports
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