AeroSvit Airlines files for bankruptcy protection, operations continued

AeroSvit Airlines (AeroSvit Ukrainian Airlines) (Kiev) today (January 4) issued the following statement:

AeroSvit Airlines has filed a petition with the Kyiv (Kiev) Regional Commercial Court to initiate bankruptcy proceedings for the purpose of commencing reorganization procedure, restoring solvency and ensuring fulfillment of commitments to its creditors in full.

On December 29, 2012, Kyiv Regional Commercial Court decreed to commence bankruptcy proceedings regarding Private Joint-Stock Company “AeroSvit Airlines”.

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.

The airline’s management remains unchanged and keeps functioning, with all procedures assuring normal operational activities, including flight safety assurance, being carried out in full extent.

Planned company’s reorganization forms part of the change program initiated by the airline in order to restore its operating efficiency and increase revenue inflows.

Copyright Photo: AeroSvit. The airline added its first two Embraer ERJ 190-100s (UR-DSA and UR-DSB) on June 15, 2012. It is unclear if this type will remain with the reorganized airline. Click on the slide show below for the other types operated.