BUSINESS IN SHORT

Air Slovakia goes belly-up

ANOTHER local air carrier has ended up in bankruptcy proceedings. The attempt at restructuring Air Slovakia has failed after it lost its licence. Restructuring trustee Vladimír Neuschl sent a proposal to announce bankruptcy proceedings for the indebted airline to the Bratislava I District Court on May 24, the SITA newswire reported.

ANOTHER local air carrier has ended up in bankruptcy proceedings. The attempt at restructuring Air Slovakia has failed after it lost its licence. Restructuring trustee Vladimír Neuschl sent a proposal to announce bankruptcy proceedings for the indebted airline to the Bratislava I District Court on May 24, the SITA newswire reported.

The court will decide on the suspension of restructuring and announcement of bankruptcy within fifteen days, in conformity with the Act on Bankruptcy and Restructuring.

The deadline for Air Slovakia to appeal the verdict of the Transport Ministry, which took away its trade licence for provision of air traffic services, expired on May 24.

The department decided to withdraw the licence of Air Slovakia on May 3 because the air carrier failed to provide essential documentation required by the ministry.

Last year Air Slovakia served 56,541 passengers on charter flights from Bratislava Airport, down 77.5 percent from the previous year when it had been the second largest operator of charter flights from Bratislava.


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