SkyEurope announces positive financial and operational developments
7/31/2009 12:00:00 AM
Vienna / Bratislava, 31 July 2009 – SkyEurope Holding AG announces that it has signed two separate financing agreements to provide additional liquidity for the business.
The Austrian investor group FOCUS Equity B.V. has signed an agreement to provide new equity investment of up to €16.5 million in SkyEurope, conditional upon a number of factors including the successful completion of the financial
reorganisation of SkyEurope Airlines a.s. (the 100% owned subsidiary), which has been underway since last month.
SkyEurope has also signed a short-term, €5 million loan agreement with Chain Box Technology Ltd, a company registered in England and Wales. This bridging agreement will be used to complement internal cash flow for working capital requirements until permanent funding is in place under the financing agreement between SkyEurope and FOCUS Equity B.V.
Nick Manoudakis, Chairman and Chief Financial Officer of SkyEurope, commented, “We are pleased to have signed these financing agreements so soon into our reorganisation. This shows that investors such as FOCUS see the potential in SkyEurope and recognise the opportunity of agreeing now to an investment in the company.”
SkyEurope Airlines a.s. also announces that tickets for the Winter 2009/2010 flight schedule go on sale starting today, offering great value flights across Europe and the Mediterranean this autumn and winter. The extension of SkyEurope’s licence has been confirmed and the airline will be operating on 32 routes to 24 destinations
in 17 countries this winter.
SkyEurope Airlines a.s. has completed its aircraft fleet renewal by signing a longterm lease agreement for two additional 737-300 aircraft. The aircraft will be leased from Slovak carrier AirSlovakia and fully operated by SkyEurope crews.
SkyEurope’s fleet now consists of four Boeing 737-700NG aircraft, four Boeing 737-300 and two Boeing 737-500 aircraft.