Central European budget carrier SkyEurope is facing further pressure after Greek-based company SAPO broke all ties with investment company Longstock, with which it had been preparing a takeover of the struggling airline.
SAPO had set up a joint Gibraltar-based company with Portugal's Longstock in December, with the purpose of acquiring a controlling stake in SkyEurope.
But SAPO says it has "withdrawn from the joint venture agreement", claiming "non-performance" from Longstock. Longstock could not immediately be reached to comment.
SAPO president Georges Samaha tells ATI, however, that the company is "still in direct negotiations with SkyEurope".
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The Greek firm specialises in corporate aviation and luxury tourism and is undergoing a strategic realignment.
As part of this change it received last month a letter of interest from the US ExIm Bank to finance four Boeing 737-700s for a yet-to-be-disclosed aviation project.
For more on SkyEurope read our recent interview with chief executive Jason Bitter
Source: Air Transport Intelligence news
