SkyEurope
| SkyEurope Airlines | |
|---|---|
|
|
| IATA code : | NE |
| ICAO code : | ESK |
| Call sign : | RELAX |
| Founding: | 2001 |
| Operation stopped: | 2009 |
| Seat: | Bratislava, Slovakia
|
| Company form: | Corporation |
| ISIN : | AT0000497003 |
| Management: | Nick Manoudakis |
| Passenger volume: | 3,575,064 (2007) |
| Fleet size: | 13 (+ 10 orders) |
| Aims: | 30 destinations in 17 states |
| SkyEurope Airlines ceased operations in 2009. The information in italics refer to the last status before the end of operation. | |
SkyEurope , officially SkyEurope Airlines, as , was an Austrian-Slovak low-cost airline headquartered in Bratislava . It was a 100 percent subsidiary of SkyEurope Holding AG based in Austria. SkyEurope filed for bankruptcy in 2009 and was subsequently liquidated.
history
Development since 2001
SkyEurope was founded in 2001 and began flight operations on February 13, 2002. It is financed with funds from the EBRD , ABN AMRO Bank and the European Union. The aircraft fleet initially consisted of a single Embraer EMB 120 , with which the connection from Bratislava to Košice in eastern Slovakia was started. Gradually three more Embraers of the same type were added. In July 2003, the fleet was expanded to include the first of initially seven Boeing 737-500s .
On September 27, 2005, Sky Europe Holding AG went public on the Vienna and Warsaw stock exchanges . This made SkyEurope the first (and so far the only) airline to be listed in Warsaw. Before the IPO , the largest shareholders were East Capital funds with 16.72% and the European Bank for Reconstruction and Development with 16.03% shares. The largest individual shareholders were Christian Mandl with 8.53%, Peter Struhár with 8.31% and Alain Skowronek with 8.19%.
The Embraer EMB 120s were returned to the leasing company in early 2006 and their crews retrained on Boeing aircraft. With the commissioning of the first Boeing 737-700 in March 2006, the company logo, the exterior paintwork of the aircraft and the uniforms of the cabin crew were revised and made more modern.
In June 2006, a capital increase of up to 20 million shares was resolved at an extraordinary general meeting, but this was not carried out for reasons of stock exchange law - the share was quoted below the nominal value at the time in question. In August 2006, a new financing concept was presented and approved by another extraordinary general meeting: the financial investor York Global Finance II is participating with 38.8 million euros, partly through shares and partly through convertible bonds . In addition, 10 million shares were publicly offered at 1.75 euros each.
At the end of September 2008, SkyEurope had arrears in contributions to the Slovak social security of around one million euros.
On January 8, 2009, GECAS terminated leasing contracts for six aircraft. The aircraft in question were returned to GECAS.
Bankruptcy in 2009
On June 22, 2009, the airline filed for bankruptcy with a district court in Bratislava . Since the same day an aircraft (737-700; OM-NGN) owned by the company was detained at Paris-Orly airport by order of a French court - and illegally in the opinion of the company's representatives - to serve as collateral for the airline's outstanding debts. Something similar happened at Bucharest Airport , where two planes - but only temporarily - were detained.
Jason Bitter resigned from his position as CEO of SkyEurope Airlines as on July 3, 2009 by mutual agreement. Deputy CEO Nick Manoudakis has been appointed as the new CEO of SkyEurope Airlines as.
SkyEurope had two loans from the York hedge fund in 2008–2009 (15 and 10 million euros, respectively). The maturity of both loans has been extended from June 15, 2009 to July 15, 2009.
Since the end of July 2009, the promise made by SkyEurope co-owner Focus Equity BV to increase its stake in the airline by up to 16.5 million euros - on the condition that the ongoing restructuring of SkyEurope Airlines comes to a successful conclusion and the Austrian takeover commission raises no objection. In addition, the airline has received a loan from a British donor. However, this loan would not have been paid out until the restructuring process was completed.
In mid-August 2009 Sky Europe was unable to fully pay airport fees and salaries in Vienna. On August 11, 2009 Vienna Airport failed to process several SkyEurope flights due to outstanding invoices. 700 passengers were stuck at the airport for hours. SkyEurope did not pay the bills despite reminders and deadlines, according to Vienna Airport. A final deadline has now been set for SkyEurope: If the airline does not pay all outstanding and due receivables by August 14, 3 p.m., the airport will stop the services. Sky Europe was not able to meet this deadline - the confirmation of the settlement of the outstanding invoices is 15:20, i.e. H. Arrived 20 minutes after the deadline. Accordingly, on August 14, Vienna Airport temporarily stopped handling the SkyEurope aircraft departing from this airport; According to SkyEurope statements, the company is no longer planning to fly from Vienna (as of August 17). The passengers were transferred from Vienna Airport to Bratislava Airport by shuttle bus and flew from there.
Despite the fact that Sky Europe announced a positive financial development and the start of sales for the 2009/2010 winter flight schedule in a FAQ in June and in a press release in August, the company had to suspend all flights at Prague Airport on August 31, 2009 as well. Shortly afterwards, flight operations in Bratislava were also suspended. On the same day, the insolvency administrator filed for bankruptcy; the flight operations have since been finally stopped. The Austrian-based Sky Europe Holding also had liquidity problems due to the airline's insolvency and also had to file for bankruptcy. This was opened on October 1, 2009 at the Korneuburg Regional Court.
The bankruptcy proceedings against SkyEurope were discontinued on December 21, 2009 due to lack of funds, the decision was finally confirmed again in May 2010 and appeals were rejected.
aims
Initially, only one Embraer 120 was used to fly the domestic route Bratislava- Košice . In addition to the home airport in Bratislava, there were other locations in Prague (after the takeover of Fischer-Air in 2005) and in Vienna . The Budapest and Krakow locations were closed for the 2007/08 winter flight schedule in order to move capacities to Vienna; the Warsaw location was closed in 2005. Budapest was of particular importance as it was a partially independent company headquarters with its own aircraft and certificates and was formally called "SkyEurope Hungary". In addition to these cities, various, mainly Western European airports were served. The Austrian domestic route from Vienna to Innsbruck and back was also operated several times a day during the winter flight schedule, but this route was discontinued due to severe financial losses. In addition, there were some destinations in the Mediterranean area that were served by charter flights during the summer months.
In Germany, Munich, Cologne / Bonn, Berlin and Stuttgart have been served in the meantime, and the Basel route in Switzerland.
SkyEurope was the first Eastern European low-cost airline (headquarters in a new EU country) to have a base in Vienna, an "old" EU country.
fleet
Up until the end of flight operations on August 31, 2009, the SkyEurope fleet consisted of 13 aircraft:
- Orders
- 10 Boeing 737-700
The fleet was maintained by KLM Engineering & Maintenance in Amsterdam and Austrian Airlines Technik in Vienna, while smaller inspections and repairs were carried out by our own maintenance staff in Bratislava, where a separate parts warehouse was set up for this purpose.
Basic data
| Million EUR | 2004 | 2005 | 2006 | 2007 | 2008 | X / 08-III / 09 |
|---|---|---|---|---|---|---|
| Operating income | 53 | 113 | 159 | 236 | 261 | 85 |
| Operating expenses | (66) | (146) | (214) | (257) | (319) | (111) |
| Operating loss | (13) | (34) | (55) | (21) | (58) | (27) |
| Group earnings after taxes | (10) | (29) | (57) | (24) | (62) | (32) |
| assets | 22nd | 84 | 117 | 150 | 113 | 94 |
| Equity | 0.1 | 34 | 16 | (3) | (64) | (98) |
| liabilities | 22nd | 50 | 101 | 152 | 177 | 192 |
| Liquid funds | 9 | 46 | 42 | 12 | 1 | 0.5 |
| Market capitalization | n / A | 82 | 102 | 103 | 19th | 6th |
| 2004 | 2005 | 2006 | 2007 | 2008 | X / 08-III / 09 | |
|---|---|---|---|---|---|---|
| Passengers (thousands) | 745 | 1 728 | 2 561 | 3 312 | 3 761 | 1 249 |
| Average revenue per passenger (EUR) | 71 | 65 | 62 | 71 | 69 | 68 |
| Load factor (RPK / ASK in%) | 78.9 | 77.7 | 75.6 | 82.8 | 76.4 | 71.5 |
| Oct | Nov | Dec | Jan | Feb | March | Apr | May | Jun | Jul | Aug | Sep | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fiscal year 2008 | 305 | 284 | 269 | 227 | 255 | 308 | 280 | 333 | 344 | 387 | 415 | 355 |
| Fiscal year 2009 | 274 | 220 | 233 | 174 | 161 | 188 | 203 | 208 | 214 | 243 | ||
| index | −10% | −23% | −13% | −24% | −37% | −39% | −28% | −38% | −38% | −37% |
Awards
- In a Skytrax survey carried out from August 2007 to July 2008 , SkyEurope was chosen as the best low-cost airline in Eastern Europe.
See also
Web links
Individual evidence
- ↑ skyeurope.com - Passenger Traffic January '09 ( Memento of the original from November 22, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (.pdf) February 6, 2009.
- ^ Vienna Stock Exchange, SkyEurope Holding AG
- ↑ Sociálna poisťovňa, Social Security Debtor (Dlžníci na poistnom) , precisely SKK 29 845 282
- ↑ Katarína Ragáčová, Sky Europe prišla o lietadlá , SME (Slovak) January 9, 2009.
- ↑ Flightglobal - GECAS terminates lease on six SkyEurope aircraft , January 9, 2009.
- ↑ Der Standard, Vienna, June 22, 2009
- ↑ Der Standard, Vienna, June 23, 2009
- ↑ SkyEurope planes seized in Bucharest and Paris The Slovak Spectator of June 25, 2009 accessed on June 27, 2009
- ↑ EANS-Adhoc: SkyEurope Holding / Jason Bitter resigns as CEO of SkyEurope Airlines as
- ↑ Leo Himmelbauer, Longstock Sapo wants to take over SkyEurope - small shareholders go away empty-handed ( Memento of December 18, 2008 in the Internet Archive ) , Wirtschafts Blatt, December 15, 2008.
- ↑ Courier, passenger loss at SkyEurope ( Memento from January 22, 2009 in the Internet Archive )
- ↑ derstandard.at - Focus Equity promises 16.5 million July 31, 2009.
- ↑ ekonomika.sme.sk
- ↑ derstandard.at - Vienna Airport stops SkyEurope handling August 15, 2009.
- ↑ - ( Memento of the original from September 16, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Hamburger Abendblatt: Low-cost airline SkyEurope is bankrupt September 2, 2009.
- ↑ Bankruptcy: SkyEurope Holding with 23.6 million euros in debt from October 1, 2009, accessed on October 1, 2009.
- ↑ Slovakian Handels-Anzeiger (Part B) of December 29, 2009, p. 2. ( Page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. , SkyEurope bankruptcy discontinued due to lack of funds ( memento of the original from August 3, 2012 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. on APA dated December 30, 2009, accessed December 31, 2009.
- ↑ http://www.airliners.de/nachrichten/bereich/rahmenbedingungen/recht/skyeurope-glaeubiger-iegen-leer-aus/21214 SkyEurope creditors go empty] May 25, 2010.
- ↑ ch-aviation.ch: SkyEurope fleet ( Memento of the original from January 20, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. June 12, 2009.
- ↑ Boeing: Orders from SkyEurope June 30, 2009.
- ↑ a b SkyEurope Holding AG annual reports 2004–2008, report on the second quarter (Q2) FY 2009 (skyeurope.com/Investor Relations / Financial Reports)
- ↑ indicator for the utilization; Ratio of RPK to ASK, which shows the effect of varying flight lengths
- ↑ Passenger Traffic reports (skyeurope.com/Investor Relations / Passenger Statistics)
- ↑ easyJet wins award for world's best low-cost airline ( Memento of the original from March 5, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
