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