Seagle Air sospende i voli charter del partner SkyOne Italy Airlines


Paulech ha detto:
Ripeto che la colpa dello stop delle operazioni non è stata di Seagle Air, ma di SkyOne
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Dear Sirs/Madams,

In response to the different allegations regarding SkyOne Italy, please read the two Press Releases.

Hope this clarify the real situation with Seagle Air, after all, they were and are in a very strange situation not clear to us.

FOR IMMEDIATE RELEASE

October 23, 2009

In reference to the declaration from Dr. Peter Hanak CEO of Seagle Air, SkyOne Italy
retains to clarify some of the issues said in the press release.
On Sunday Oct. 19th, 2009 during a meeting in Bratislava with Dr. Peter Hanak and Mr.
Lubomir Hlacav due to Seagle Air lack of financial position regarding the entire operation and
liabilities toward our company we have agreed as follows:
Seagle Air should provide us with a PERFORMANCE INSURANCE GUARANTEE FOR
THE LIFE OF THE CONTRACT and then we will issue the Letter of Credit of the amount of €
1,380,000.00 seven (7) days before the first flight as per contract. On Monday Oct. 20, 2009 Seagle Air
has informed us that a Letter of Credit would not be sufficient, they will require cash instead, but they
still have not provided such a performance insurance guarantee.
Seagle Air has put us in a very difficult situation and we are trying to remediate, even if, so far our
effort to communicate with Seagle Air to get answers for their actions has been with no response at all.
We hope in a very immediate solution and looking forward to continue our business relation.

SkyOne Italy Airlines, LTD

FOR IMMEDIATE RELEASE

October 25, 2009

We regret to announced today that it had reached no agreement with Seagle Air following several days
of discussions about matters related to Italy Operations. The dramatic differences in the parties
transaction structures and our views of the risks involved made it impossible to reach a mutually
acceptable agreement.
SkyOne Italy transaction, which it remains willing to complete, while limiting the risk to SkyOne Italy
and generating value for its shareholders. The transaction also preserved substantial value for Seagle
Air Owner and other holding company without exposing SkyOne Italy to Seagle Air company
liabilities it declined to assume. Finally, SkyOne Italy agreed to pay € 5,000,000.00, for a percentage of
the company and to incur up to € 5,000,000.00 of losses, in exchange for the contingent loss protection
that Seagle Air agreed to provide.
Our shareholders have been unjustly and illegally deprived of the opportunity the transaction created.
We have estimated the loss for about € 1.5 Billions Euro.
SkyOne Italy knows that it has strong legal claims against Seagle Air, their officers, directors, advisors
and others for breach of contract and for tortious interference with contract. SkyOne Italy plans to
pursue these damage claims vigorously on behalf of its shareholders.

SkyOne Italy Airlines, LTD

Sincerely Yours,

Jean Lee Rausch
 
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