Sabena Administrators???
You be able to pick them up cheap. Thread Starter
Join Date: Jul 2000
Location: California
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Gaza
Someone will have to make sense of all this and deal with Lessors, Banks et al coming to seize their assets
Surely it isnt going to be left to Sabena management to handle.....
Someone will have to make sense of all this and deal with Lessors, Banks et al coming to seize their assets
Surely it isnt going to be left to Sabena management to handle.....
Join Date: Oct 2001
Location: midlands
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Presumably some of teh routes that they fly must be profitable, and if it goes into Administration then they would be able to continue on those routes. Would this be a way around LIFO redundancy packages and the Adminstrators would just keep the crews that they wanted. If it is in Liquidation then they would wind it up and sell any assets to pay the creditors, more than likely only a fraction of what they are owed. Ergo wouldn't it be better in Administration, there are a few American airlines that have traded out of deep **** b4 now. What will the union do, I heard one acft asking to divert this morning under orders from his company not wanting the acft togo to BRU due to industrial action.
It would be a shame to see them disappear completely, they had such a good paint scheme.
It would be a shame to see them disappear completely, they had such a good paint scheme.
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Papillon - liquidators. Belgian commercial law doesn't have an equivalent of UK Administration or US Chapter 11 - what SN is in at present is as close as it gets.
They have already tried to asset strip SN by transferring over route licences, slots etc to DAT - not too sure how legal that is though bearing in mind that (a) they could be seen as assets and (b) are not supposed to be transferrable.
I understand the decision to close will be taken at 2100 local/2000Z.
They have already tried to asset strip SN by transferring over route licences, slots etc to DAT - not too sure how legal that is though bearing in mind that (a) they could be seen as assets and (b) are not supposed to be transferrable.
I understand the decision to close will be taken at 2100 local/2000Z.
