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Friday, January 4, 2013

AeroSvit Airlines Files for Bankruptcy

AeroSvit Airlines filed for bankruptcy at the end of December, but will continue to operate, according to a statement on the Ukraine carrier’s website.

(Image courtesy of AeroSvit Airlines)

The airline recently incurred debt issues with several Russian airports, including Rostov-on-Don, Moscow Sheremetyevo and St. Petersburg. AeroSvit recently reached an agreement with Moscow Sheremetyevo to resume operations there after the airport banned the carrier over a $3 million debt.

“However, as of today the airline is not bankrupt, as AeroSvit Airlines does not stop its operations and will continue to fulfill its current commitments to its contractors,” AeroSvit said in a statement.

The carrier said its reorganization plan “forms part of the change program initiated by the airline in order to restore its operating efficiency and increase revenue inflows.” 

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