Slovak Airlines Not on the Verge of Bankruptcy

Dispelling rumours circulated by Austrian media, Slovak Airlines (SA) said it planned no bankruptcy proceedings, SA spokesperson, Tatiana Jonakova, told reporters on Wednesday.

The company is solvent and capable of meeting its operational costs and dues, she added.

Speculations resurfaced when the Slovak government refused to cover SKK 171 million (ERU 4.86 million) in hidden liabilities, which now-owner Austrian Airlines (AUA) discovered on opening pre-acquisition books. AUA, which bought a 62-per-cent stake in the company in autumn 2004, decided to withdraw two of the three aircraft the SA had been using.

The aircraft in question are a Fokker 100 and a Boeing 737-300.

As a result, SA suspended Tuesday flights to Brussels and Moscow.

Jonakova said the SA will not leave its single airplane idle. "Well try to obtain one more plane by May, so that we can secure charter flights for the summer season, a profitable time of the year for us," she said.