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Sweden’s regional Airline, Skyways, give in to bankruptcy

Tuesday, 22 May 2012
The Swedish regional airline Skyways Express, and its subsidiaries City Airline, have suspended payments, as well as forced to cancel all flights with immediate effect. The reason is that the companies could have sought bankruptcy protection during the Tuesday morning.

According to a press release, the companies CEO Michael Wångdahl – Sky way and City airlines wrote that
"I feel incredibly sad that this happens for the company and for our passengers who are directly affected. Sadly, it is also for our staff at risk of losing their jobs. We have come a long way in our efforts to reverse the company's development but after Cimbers bankruptcy, it became difficult to manage our business."

The company is said to have worked hard to turn things around for half a year. Skyway is a regional airline flying to over 20 destinations in Sweden and abroad. For example, they had a flight from Stockholm to Visby, Örnsköldsvik, Halmstad Växjö. From Gothenburg, the company operated to areas such as Åre / Östersund, Manchester and the Bergen.

The news at 6 o'clock on Tuesday morning hit travellers from Karlstad to Copenhagen to Stockholm 05:50 and 06:30. The first affected travellers with Skyways from Stockholm are the ones who would have flown to Oskarshamn, Kristianstad, Karlstad, Växjö and Jönköping with departures around 8:00 am. From Landvetter outside Gothenburg, a plane was to take off to Zurich at 06:50.

Skyways and City Airlines financial problems is the second in the aviation industry in a short time. Danish Cimber Sterling filed for bankruptcy on May 3. During the last half of last year,  Skyways has unsuccessfully tried to turn around the company.

"We have come a long way in our efforts to reverse the company's performance, but after Cimbers bankruptcy, it became difficult to manage the business, "commented Skyways CEO Michael Wångdahl in the company's press release.

It's only a year ago that Skyways bought City Airline.
"We at City Airline have for a long time seen the need for consolidation and recapitalization in order to develop further, "wrote City Airlines CEO Jimmie Bergqvist  in a statement back in time.
Overall, it is estimated that the combined company have a traffic of over one million passengers a year.

On the Skyways website was this morning it is written just news about the suspension of payments. All other information is gone.
By Team

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