“On December 29, 2012, the economic court of Kyiv region issued a ruling on the start of proceedings on the bankruptcy case for private joint-stock company AeroSvit Airline. However, today the airline is not bankrupt,” the press service said.
AeroSvit also said that the company does not stop operating and it will continue fulfilling current liabilities to contractors.
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The press service said that managers continue functioning. All of the procedures for maintaining the company’s operations, including safety of flights, are carried out in full.
“The planned readjustment of the airline is a part of its reformation started by the company to restore its operation effectiveness and increase profits,” the press service said.
As reported, the economic court in Kyiv region after considering an application from private joint-stock company AeroSvit Airline, on December 29, 2012 commenced proceedings on the bankruptcy case and appointed arbitration manager Leonid Talan property manager.
The ruling says that as of December 27, 2012, the airline had a debt of Hr 4.27 billion to its creditors. According to the balance sheet as of September 30, 2012, the total assets of AeroSvit stood at Hr 1.467 billion.
The property manager is to conduct a stock-taking of AeroSvit’s property and inform the court on its results.
AeroSvit was created in 1994. It is based at Boryspil airport in Kyiv. It serves 80 international destinations in 34 countries. It provides services to passengers in the largest cities of Ukraine. Its fleet consists of 28 Boeing aircraft, including 20 medium-range Boeing 737s and eight long-haul Boeing 767s. In addition to that, it operates Airbus 320, Airbus 321, Embraer 145, Embraer 190, and ATR-72 aircraft.
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