Aerosvit Airlines temporarily suspends operations and files for bankruptcy – ch

Aerosvit Airlines temporarily suspends operations and files for bankruptcy

04JAN2013

Aerosvit Airlines (VV, Kyiv Borispol (KBP)) has according to Kyiv Borispol (KBP) ceased their operations at noon today. Flight VV257 which left for Copenhagen Kastrup (CPH) was the last Aerosvit Airlines flight before they stopped their operations. According to Ukranian newspaper delo.ua the airline has also filed for bankruptcy on December 29 at the industrial court in Kyiv. The carrier owned by Ukranian oligarch Ihor Kolomojskyj and his Privat Bank Group already had been in financial difficulties for some time accumulating approximately €420 million EUR in debt. The court has appointed Leonid Talan as the Airlines Insolvency Administrator. Aerosvit Airlines operates a fleet of 31 aircrafts (28 active, 3 stored) with an average age of 17.1 years.

Update (14:00 GMT): In a first press statement Aerosvit Airlines has confirmed that they have filed for bankruptcy on December 29 and that they will fulfill their current liabilities. They also claim that they have not ceased operations yet. However Kyiv Borispol Airport states that they are not handling Aerosvit Airlines flights because of outstanding debts and no flight has arrived or departed after 12:50 local time. All flights since then have been cancelled.

Update (17:32 GMT): According to a spokesperson at Kyiv Borispol Airport they have received a partial advance payment from Aerosvit Airlines and a few flights are allowed to take off this evening. Nevertheless, the airport issued an ultimatum and will stop handling Aerosvit Airlines flights again at 12:00 local time on January 09 if they fail to pay their outstanding liabilities until then.

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