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Skyways which is currently under bankruptcy management has debt of Skr410 million

Monday, 16 July 2012
It was dobbed, the new ways of business and regional travel in Sweden - regular flights around. But all that was done in the back of huge debts because as the company went bankrupt in May, airline Skyways and its subsidiary City Airlines, had a total debts of Skr410 million.

The bankruptcy administration estimates assets of the companies reaching Skr80 million, according to the estate inventory assessment.

A majority of the passengers who had bought tickets have received their money back from travel agents or Credit Card Companies.

Among the priority are staff, which had receivables not covered by the wage guarantee. However, it may take a long time before any payment is made.

The bankruptcy came to being when the previous owner, the investment company Mansvell, announced that it was not putting more money into the loss-making company. Then they had already made a 'contribution of Skr70 million in 2012, and considerably more in the previous year.
By Scancomark.se Team



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