Kyiv-based AeroSvit Airline has grounds for bankruptcy, the property manager of the company, Leonid Talan has said.

"I think that the ratio of [the airline's] debts and assets shows that there are grounds for bankruptcy," he told reporters after a hearing of the economic court in Kyiv region on the base of AeroSvit's bankruptcy in Kyiv on Wednesday.

Talan also said that there are no grounds to say about artificial bankruptcy of the airline.

The economic court in Kyiv region on January 23, 2012 decided to postponed the hearing on the case of AeroSvit's bankruptcy for 1415 February 15, 2013.

The court gave three weeks and two days to the airline to carry out a stocktaking of its property and submit information on it.

Talan said that the airline's property stocktaking was not conducted before the Wednesday hearing due to the large amount of property and the fact that the property is scattered.

Talan initially asked the court to give a chance of conducting the stocktaking by March 22, 2013, although the court decided to give three weeks. The arbitration manager agreed with the decision.

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.

The Boryspil united state tax inspectorate in Kyiv region filed a claim to the economic court of appeals in Kyiv against a ruling of the economic court on the opening of proceedings in the case of bankruptcy of the airline. The court accepted the claim on January 21, 2013.

Later, the Income and Tax Ministry service reported that the State Tax Service is investigating into the availability of credit claims of the state as a part of the procedure for AeroSvit's bankruptcy. The ministry said that due to the start of the bankruptcy procedure, the scheduled comprehensive check of the company was not finished.

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.