Lessons in the "bankrupcy" Category

Sky Europe finally goes bankrupt

Ailing low cost Central European airline SkyEurope has finally gone bankrupt. After struggling for months it finally admitted defeat at the beginning of September. The airline that existed for 7 years has had ongoing financial problems. It is yet another casualty of the economic recession that has seen other low cost carriers recently slash routes and jobs.

The collapse left thousands of passengers stranded abroad. The airline that flew across Europe from its hub bases in Prague, Bratislava and Vienna ceased trading after airports banned SkyEurope planes over non-payment of debts at the beginning of September.

Having been banned from Vienna Airport in August the airline shifted its flights to nearby Bratislava in Slovakia. It faced a similar ban at Prague airport unless regular payments were made. A day later Slovakia revoked its operating licence as a result of the bankruptcy. Previously SkyEurope had had planes impounded in Paris and Bulgaria over non payment of airport fees...