SkyEurope reported Friday that its net loss for its business year running until the end of September more than doubled to 59.4 million euros, as results were affected by high fuel prices. As of September 30, the budget carrier's cash reserves amounted to 1.3 million euros, down from 11.6 million euros in 2007. Operating losses widened to 56.1 million euros, from a loss of 20.9 million euros in the previous business year. Sales increased by 10.5 per cent to 260.9 million euros, but SkyEurope paid 67.1 per cent more for its fuel in the business year, ending in September, than in the previous accounting period.
Now by December 15th they'll have to re-pay EUR 25 million... will York Global Finance take over control?