Troubled Aerosvit cancels flights

8 Jan 2013 by BusinessTraveller

Ukrainian carrier Aerosvit has been forced to cancel several domestic and international services, as the airline struggles with debts and bankruptcy proceedings.

A report by respected aviation website said that several of the carrier’s aircraft had been detained at airports including Warsaw, Stockholm and Tel Aviv, while Bloomberg reports that Aerosvit was forced to cancel 17 domestic and international services.

The carrier started bankruptcy proceedings at the end of last year, and is believed to have debts of over $500 million.

Aerosvit launched in 1994, and serves destinations including Beijing, Delhi, Bangkok, Dubai, Milan, London Gatwick, Toronto and New York from its base at Ukraine’s Kiev Boryspil Airport.

On January 4 Aerosvit released a statement in which it reassured customers that “the airline is not bankrupt”, adding that “AeroSvit Airlines does not stop its operations and will continue to fulfill its current commitments to its contractors”.

Earlier this week it was reported that LOT - the flag carrier of Ukraine’s neighbour Poland – is to cut staff numbers by 30 per cent and reduce the number of planes in its fleet from 40 to 25 (see online news January 6).

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Report by Mark Caswell

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