Airport, Baltic, Business, Estonia, Markets and Companies, Transport

International Internet Magazine. Baltic States news & analytics Friday, 22.10.2021, 02:24

Estonian airline Avies was declared bankrupt

BC, Tallinn, 26.06.2015.Print version
On June 26, 2015, the Harju County Court decided to declare regional airline Avies bankrupt, writes, reports LETA.

The bankruptcy petition had been submitted by two Swedish business partners of the airline, Swedewings AB and Bromma Air Maintenance AB.

Temporary trustee in bankruptcy Veli Kraavi said that the company was insolvent, as it suffered major payment difficulties, was late in discounting assets on the balance sheet, and hence unable to cover creditors' claims from company assets.

In March 2015, the Swedish Transport Administration cancelled all contracts concluded with Avies. The enterprise fell under criticism in Sweden last autumn, when the Chairman of Swedish Pilots' Association Martin Lindgren stated that there were shortcomings in safety procedures, and asserted that he had seen e-mail correspondents whereby pilots were instructed to ignore technical malfunctions.

Search site