SkyEurope declared bankrupt

Slovakia-based low-cost airline SkyEurope cancelled all its flights and declared bankruptcy shortly before midnight on Monday, August 31. Brokers on the Vienna stock exchange, where shares of the airline are traded, were the first to know late Monday evening.

Slovakia-based low-cost airline SkyEurope cancelled all its flights and declared bankruptcy shortly before midnight on Monday, August 31. Brokers on the Vienna stock exchange, where shares of the airline are traded, were the first to know late Monday evening.

"The restructuring trustee of SkyEurope today [Monday] submitted a proposal to start bankruptcy proceedings against the company – a subsidiary of SkyEurope Holding AG," the Vienna stock exchange announced. This was caused by a lack of capital to finance the current activities of the company. "All the flights are cancelled immediately," representatives of the stock exchange added.

The airline also disclosed information about the bankruptcy on its website, along with apologies to its customers. "SkyEurope has terminated sales of flight tickets and closed the entire operation, effective immediately," the company announced. SkyEurope cancelled 12 flights from Bratislava airport on Monday, August 31. Airport spokesperson Dana Madunická told the TASR newswire that the cancellations were not due to the company's failure to settle payments to the airport, but were because of what she called "other operational reasons". SkyEurope recently had to switch flights from Vienna to Bratislava after Vienna airport refused to handle any more of its flights because of non-payment of airport fees.

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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