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Slovakia (10) -- News -- 2009
SkyEurope has filed for bankruptcy
01.09.2009
Slovakia-based SkyEurope, which flew out of Luton and Manchester, has warned it "may not be possible" to offer refunds to those who booked directly.
SkyEurope which has been struggling to restructure its debt and to cope with falling revenues in the economic downturn,
cited the "lack of sufficient interim funding to finance ongoing operations".
Vienna international airport had stopped servicing the airline's departing flights in mid-August after it missed a deadline for paying outstanding debts.
And Prague's airport had said it would not service SkyEurope flights starting Tuesday if it failed to pay what it owed.
Slovakia (10) -- Analyses -- 2009
The collapse in Air Transport
01.09.2009
The collapse comes as the International Air Transport Association (Iata) said that airlines worldwide were likely to have lost more
than $6 billion (?3.7 billion) in the first half of 2009.
This figure - an average of $1 billion a month - is double the amount Iata said in December that airlines would lose during the whole of 2009.
The global recession has had a major impact on the industry, with business and leisure customers cutting back on travel, and companies transporting far less cargo.
Rising oil prices have also made fuel more expensive, "intensifying airline cash burn," Iata said.
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