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Small Planet Airlines grounded by authorities

https://ifn.news/posts/small-planet-airlines-grounded-by-authorities/

Small Planet Airlines has been permanently grounded by the Lithuanian Civil Aviation Administration (CAA). All flights are cancelled.

The Lithuania-based carrier’s Air Operator Certificate (AOC) was revoked by a court, forcing the airline to cease all operations in the night from November 28th to November 29th. Small Planet Airlines recently entered a restructuring process, laid off staff and airplanes, trying to maintain flights, but ultimately failed to cover its own group’s costs.

Its three subsidiaries, Small Planet Airlines Germany, Poland and Cambodia had already suspended operations earlier this month.

The German branch recently announced that it found a buyer, however earlier it week it was reported that the purchase had failed.

Small Planet Group operated a total of 32 Airbus A320 family aircraft. It also had Boeing 737-300 and a single 757-200 in the past.

Small Planet folds after licence suspended

http://www.travelweekly.co.uk/articles/318099/small-planet-folds-after-license-suspended

Lithuania-based Small Planet airlines has ceased flying after its air operating licence was suspended by Lithuania’s civil aviation authority this week.

The authority acted after the Vilnius Regional Court refused Small Planet’s request to allow additional time for restructuring.

The operating certificate was suspended from midnight on November 28. However, some of the carrier’s flying was immediately taken over by Vilnius-based carrier GetJet Airlines.

Small Planet went into administration in October after its German and Polish subsidiaries filed for insolvency and despite claiming “a successful and profitable operational performance” in 2018.

The carrier said then that it had been forced to declare insolvency to restructure after the subsidiary operations in Poland and Germany filed for bankruptcy.

It described the filing as “a vital step to protect its business”, and chief executive Kristijonas Kaikaris insisted: “There is a major difference between the restructuring in the Polish and German companies and in Lithuania.

Kaikaris described “finding a new investor” as “vital” to restructuring the subsidiaries in Germany and Poland but said: “The Lithuanian company can survive without it.”

The Lithuanian carrier reportedly presented a restructuring plan this week but failed to provide evidence to the court of commitments from an unnamed investor.

Small Planet Lithuania had eight aircraft. The Small Planet Airlines Group operated 29.

Berlin-Charlottenburg district court opens insolvency proceedings against Small Planet Germany

https://centreforaviation.com/news/berlin-charlottenburg-district-court-opens-insolvency-proceedings-against-small-planet-germany-863757
[articolo per abbonati CAPA]

 

[Paolo_61]

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