Thursday, 20 September 2018

Hopes for a buyer for Small Planet increase

The administrators of the small German charter airline, Small Planet Airlines have told the media they are hopeful of a deal from prospective purchasers after a debt restructuring process has been completed.

The administrator told the Reuters news agency that there was a good chance of a deal for the insolvent company that has a fleet of 9 aircraft and employs nearly 400 people.  “Talks are going on with investors, and they are now being intensified under new conditions,” Joachim Voigt-Salus, the administrator told Reuters.

Small Planet, mainly operates flights to the top Mediterranean holiday destinations carrying holidaymakers and tourists and filed for insolvency earlier this week in a bid to keep the flying programme operational while a buyer could be found.

The airline had massive debts, however, “Now the question is whether we can cut these liabilities through the insolvency process so that a new investor can take off again with Small Planet.”  Voigt-Salus said. 

This only affects the German Small Planet Airlines, not the Lithuanian parent company, the Small Planet Group. 
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