Ukrainian Aviasvit in very serious financial difficulty now

[Stratofreighter]

The Google translation of http://delo.ua/business/aerosvit-podal- ... ve-193793/
can even be interpreted as Aerosvit may have actually filed for bankrupty, or bankrupty protection...

http://translate.google.com/translate?s ... -193793%2F

According to http://www.airliners.net/aviation-forum ... n/5650476/ all is not well at Aerosvit...

http://en.wikipedia.org/wiki/Aerosvit

The end of the "yellow noses"

[cHabu]

This is from AeroSvit's web site dated today

AeroSvit Airlines has filed a petition with the Kyiv 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 29th, 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.

[Stratofreighter]

http://www.flightglobal.com/news/articl ... ts-380717/

Debt-ridden AeroSvit's aircraft detained at various airports

12:32 7 Jan 2013

Ukraine's foreign affairs ministry has disclosed that aircraft operated by AeroSvit have been detained at various airports, in the wake of bankruptcy proceedings being initiated against the troubled carrier.

It says an aircraft, whose passengers included 30 Ukrainians, was held back at Warsaw on 4 January while another was impounded at Stockholm the following day.

The ministry says a "similar situation" with the airline occurred at Tel Aviv on 6 January, adding that rival carrier Ukraine International Airlines - as well as other operators - stepped in to return passengers to Kiev.

Alternative flights have also been arranged for passengers travelling to Kiev from the Uzbek capital Tashkent.

AeroSvit's long-haul services have been similarly affected, says the ministry, with passengers stranded in the Vietnamese airport of Ho Chi Minh City as a result of the carrier's debts.

The airline has been struggling to maintain services after a Kiev commercial court highlighted, on 29 December, the extent of AeroSvit's debts and agreed to commence bankruptcy proceedings.

Kiev-based AeroSvit operates a fleet primarily comprising Boeing 737s and 767s, but the carrier has also leased Airbus A320s and Embraer 190s

.