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SkyEurope wins bankruptcy protection

Low-cost carrier SkyEurope has pledged to continue operating a full service after winning court protection from creditors in Bratislava, Slovakia.

The airline – based in Bratislava – flies from Luton and Manchester to Slovakia and Prague, although it also has a base in Vienna. It said all tickets would be honoured and suppliers paid.

SkyEurope carried 2.1 million passengers in the 12 months to May, but reported a 37% year-on-year fall in passengers last month following cuts in capacity.

The carrier began flying in February 2002 and has been listed on the stock exchanges in Vienna and Warsaw since 2005. However, it has been in financial difficulty for some time.

Its results for the year to the end of September 2008, published this week following a delay, include a note of disagreement from auditor KPMG Austria stating these “fail to give an accurate picture of the group’s assets and its financial position”.

In a statement the airline said: “SkyEurope will continue to fly its scheduled and charter routes as planned.”

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