newstodate.aero
Jan 26, 2006 (newstodate): The project for a JV between the now defunct Swedish airline SWE FLY and the Indian lcc, SpiceJet, is still ongoing and alive.
Meeting the deadline, SWE FLY's creditors accepted the offer of payment by 10 percent of their accounts, thus constituting the first of a series of preconditions for the project to continue.
The next issues were the Swedish authorities' acceptance to allow the carrier to retain its AOC, and the Swedish and Indian authorities' granting the carrier's traffic rights, and while no written permits and certificates have yet been forwarded, all lights are green after a series of meetings between the involved parties and authorities.
Based on these conditions the Indian lcc SpiceJet has declared itself ready to inject one million USD into a joint-venture with SWE FLY.
Plans are for this JV to start operations on routes between UK and India via Stockholm, between New York and India via Stockholm, and between Toronto and India via Stockholm.
-So far we are quite optimistic, but we need of course to have all positive oral statements translate into written, binding papers, says a representative of the Swedish law firm in charge of the reconstruction of the bankrupt Swedish carrier.
Meeting the deadline, SWE FLY's creditors accepted the offer of payment by 10 percent of their accounts, thus constituting the first of a series of preconditions for the project to continue.
The next issues were the Swedish authorities' acceptance to allow the carrier to retain its AOC, and the Swedish and Indian authorities' granting the carrier's traffic rights, and while no written permits and certificates have yet been forwarded, all lights are green after a series of meetings between the involved parties and authorities.
Based on these conditions the Indian lcc SpiceJet has declared itself ready to inject one million USD into a joint-venture with SWE FLY.
Plans are for this JV to start operations on routes between UK and India via Stockholm, between New York and India via Stockholm, and between Toronto and India via Stockholm.
-So far we are quite optimistic, but we need of course to have all positive oral statements translate into written, binding papers, says a representative of the Swedish law firm in charge of the reconstruction of the bankrupt Swedish carrier.