SkyEurope goes bankrupt

Posted by in airlines

Low cost airline SkyEurope canceled all upcoming flights and is applying for bankruptcy. Yesterday, the Slovak low-cost company SkyEurope canceled all flights with immediate effect and applied for bankruptcy, according to Airwise.

The airline was launched in 2001 and has flown mainly in continental Europe. In June, the airline adopted a three-month reprieve from its creditors in Slovakia and the focus was on restructuring and paying their debts. At the same time their passenger traffic fell by 37 percent in July. Due to the decreasing number of passengers and the shrinking surplus, the one of the state appointed managers of the company had not been financially viable to continue.

The airport of Vienna banned SkyEurope from landing from 15 August as the airline failed to pay their fees. On Tuesday the airport in Prague announced that they did the same.

For the financial year ended 30 last September the company made a loss of 18.9 million euros. The year before the corresponding figure was -15.7 million euros.

SkyEurope had a fleet of 14 planes and 697 employees. At the end of last year the company served 38 destinations with a load factor of 72.7 percent.

The airline announced that customers who bought tickets with credit cards should contact the issuer of the card to get their money back.

Customers that currently reside on a trip and have return ticket with SkyEurope must pay for their trip with another airline themselves. Either that or to contact their insurance company.