newstodate.aero
Sep 12, 2006 (newstodate): The proposed JV between bankrupt Swedish airline Swe Fly and the Indian Spicejet may reach a final deadline today.
The stumbling block remains the finalisation of investments from the Indian partner, which has so far suffered from repeated delays in procedures.
The Swedish partner has therefore demanded that the transfers to recapitalise Swe Fly must now be settled within a strict deadline as a prerequisite to further advance in the project that has otherwise obtained all necessary licenses and permits by authorities on both sides.
If payments issues are not settled, the reconstruction of the defunct Swe Fly cannot be completed, and the airline will be finally grounded by solicitors.
The project was engineered by the Indian lcc SpiceJet to revive Swe-Fly and cooperate on setting up a new route network connecting destinations in India with destination in Europe and the USA, using Stockholm Skavsta Airport as a hub.
The stumbling block remains the finalisation of investments from the Indian partner, which has so far suffered from repeated delays in procedures.
The Swedish partner has therefore demanded that the transfers to recapitalise Swe Fly must now be settled within a strict deadline as a prerequisite to further advance in the project that has otherwise obtained all necessary licenses and permits by authorities on both sides.
If payments issues are not settled, the reconstruction of the defunct Swe Fly cannot be completed, and the airline will be finally grounded by solicitors.
The project was engineered by the Indian lcc SpiceJet to revive Swe-Fly and cooperate on setting up a new route network connecting destinations in India with destination in Europe and the USA, using Stockholm Skavsta Airport as a hub.