Lithuania, Tourism, Transport

International Internet Magazine. Baltic States news & analytics Tuesday, 20.05.2025, 05:44

Star1 Airlines sold 15,924 tickets to cancelled flights

Danuta Pavilenene, BC, Vilnius, 05.10.2010.Print version
In the face of a bankruptcy, Star1 Airlines has sold 15,924 tickets to the flights that will not be operated; 1,286 clients have been affected by the bankruptcy of the tour operator Star Holidays, Head of Star1 Airlines Martynas Laivys says.

According to Laivys, the airline owes 3.5 million litas (0.99 million euros) due to the non-operation of flights and 1.7 million litas (0.485 million euros) due to the tours that were cancelled. Star Team Group is most heavily indebted to its suppliers – the amount is estimated to reach some 10 million litas (2.85 million euros). The company owes 1.3 million litas (0.37 million euros) to its employees and SoDra, writes LETA/ELTA.

 

The company suspends its activities for an indefinite period, but it would resume its work with a help of a strategic investor, Laivys said referring to the Chinese HNA Group which operates Hainan Airlines. The visit of HNA Group representatives is due on October 20.

 

Star Team Group, the only shareholder of Star1 Airlines, commissioned the airline's CEO to draw up and submit the application on initiating bankruptcy proceedings against Star1 Airlines and other necessary documents to Vilnius district court by October 5.





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