Aviation
Commercial /
Europe
Czech Airlines
Bankrupt, company can see its debt multiplied by ten per Airbus share
Airbus A319 da Czech Airlines
Aktug Ates, GFDL 1.2, via Wikimedia Commons
Rafael Ramos
6/1/2021
As one of the oldest companies in the world did not withstand the health crisis we were going through, Czech Airlines declared bankruptcy after 98 years of operations. The company belongs to the Smartwings Group, which, according to the Czech portal E15, filed its insolvency request in February, however, reporting debts in the amount of US$ 86 million.
Airbus has filed a lawsuit for compensation in the amount of $814 million for aircraft that had already been booked. The process handles orders for 7 aircraft, four A220-300 and three A321XLR, which were ordered by Czech in 2019, but which were never paid for.
Airbus A319 da Czech Airlines
Lukáš Musil, CC BY-SA 4.0, via Wikimedia Commons
According to what the European automaker says in the documents, Czech never paid the invoices, currently worth CZK 6.4 billion. Payment should have started in December 2019. However, the remaining payment due date has not yet occurred.
Adding what the company owes with the value of termination of the aircraft purchase contracts, the total is CZK 17 billion, the equivalent of 814 million dollars. Czech's list of creditors is approximately 5,500, with an upward trend.
Hyperlinks:
...
...
...
Rafael Ramos
Aviation enthusiast from an early age, he had his first contacts with the area developing that good old habit of spending dozens of hours in front of the screens of Micrsoft Flight Simulator and other simulators. With a solid background in various technological areas, including engineering and chemistry, Rafael has rejoined aviation as editor and author of articles and materials on our portal, providing invaluable help to the dynamics and expansion of the website and the aeronautical community, bringing us the news and updates so indispensable for us to remain current in our area of operation.
   
|