Ukrainian Aviation Landscape Changes as Aerosvit Declares Bankruptcy



Ukraine’s eighteen year old flag carrier Aerosvit entered into bankruptcy on the 3rd of January, continuing the list of European large airline bankruptcies, and becoming the first airline to declare bankruptcy in 2013.

 AeroSvit operates as a Closed Joint Stock Company and is owned by the Privat Group – which also owns Dniproavia and Donbassaero. The owner of the Privat Group is Ihor Kolomoyskyi, who also owned Cimber Sterling as well as Skyways Express. 

English: Aerosvit Boeing 767 UR-VVT

English: Aerosvit Boeing 767 UR-VVT (Photo credit: Wikipedia)

Enhanced by ZemantaAs of the bankruptcy proceedings, the airline has declared that its debt level amounted to approx. USD530 million, while the company net value was only in the range of USD177 million.

Subsequent to the bankruptcy activities, the other major Ukrainian airline Ukrainian International Airlines will take over a number of Aerosvit routes from the start of the 2013 IATA Summer season. (31st March 2013)

The routes out of Kiev, that are due to be taken over are as below.

 

 

map

Several of the above route transfers had already been announced late last year. It is as yet not clear whether Aerosvit will transfer any of its aircraft to UIA.

, ,

3 Responses to Ukrainian Aviation Landscape Changes as Aerosvit Declares Bankruptcy

  1. Simply wish to say your article is as surprising. The clarity for your publish is simply spectacular and i could assume
    you are a professional in this subject. Well together with
    your permission let me to grab your RSS feed
    to keep updated with forthcoming post. Thank you one
    million and please continue the gratifying work.

  2. louis vuitton outlet 6 November, 2013 at 2:31 am #

    http://www.decisionbysquiggle.com louis vuitton outlet

  3. louis vuitton outlet 6 November, 2013 at 2:31 am #

    http://www.seam-stpaul.org louis vuitton outlet

Leave a Reply