17:41 17.01.2013

Court collects from AeroSvit over UAH 42 m in debts for servicing at Boryspil airport

2 min read
Court collects from AeroSvit over UAH 42 m in debts for servicing at Boryspil airport

The economic court in Kyiv region on January 17, 2013 collected over UAH 42 million in debts for airport fees and for services provided to AeroSvit Airline under a claim of Prosecutor General's Office in favor of the Boryspil International Airport (both based in Kyiv), the press service of the Prosecutor General's Office has told Interfax-Ukraine.

As reported, the economic court in Kyiv region, after considering an application from private joint-stock company AeroSvit Airline, on December 29, 2012 commenced proceedings on the bankruptcy case. The case will be heard on January 23, 2013.

According to a ruling published in the single ruling register, the court also ruled to introduce a property management procedure for the airline and appointed arbitration manager Leonid Talan as its property manager.

The ruling says that as of December 27, 2012, the airline had a debt of UAH 4.27 billion to its creditors. According to the balance sheet as of September 30, 2012, the total assets of AeroSvit stood at UAH 1.467 billion.

The airline later said that the submission of the claim was made as a part of its restructuring to launch a readjustment procedure, restore the airline's solvency and ensure the fulfillment of its liabilities to creditors.

AeroSvit also said that the airline was not stopping its operations and it will continue fulfilling current liabilities to contractors.

AeroSvit was created in 1994. It is based at Boryspil airport in Kyiv. It previously served 80 international destinations in 34 countries, and provided services to the largest cities of Ukraine. Its fleet consisted of 28 Boeing aircraft, including 20 medium-range Boeing 737s and eight long-haul Boeing 767s. In addition to that, it operated Airbus 320, Airbus 321, Embraer 145, Embraer 190, and ATR-72 aircraft.

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