newstodate.aero
Dec 04, 2017 (newstodate): The Swedish/UK carrier West Atlantic may now be seeing light at the end of the tunnel after some challenging months.
In its latest Interim Report January-September 2017, the company says it is in "advanced discussions with a few relevant parties who have shown serious interest in taking on a significant shareholding in the company, adding capital and other tangible values."
In November, West Atlantic warned its creditors to keep calm and stay cool.
-While a return to operational profitability is expected during the fourth quarter of 2017, the Issuer cannot be certain that it will be in compliance with the Maintenance Test as at 31 December 2017. Consequently, the Issuer will request that the Holders temporarily waive the Issuers undertaking of the fulfillment of the Maintenance Test as set out in the Terms and Conditions, the company said in a release.
In the latest report, the company says it delivered continued strong growth year-on-year but delayed aircraft deliveries and maintenance cost overruns lead to unsatisfactory financial results for the quarter.
-While we continue to adapt our organization, cost structure, and fleet sizes to market requirements, we forecast that we are past the worst of our transition period, and will be able to produce better results in the quarter and year to come, the latest Report reads.
In its latest Interim Report January-September 2017, the company says it is in "advanced discussions with a few relevant parties who have shown serious interest in taking on a significant shareholding in the company, adding capital and other tangible values."
In November, West Atlantic warned its creditors to keep calm and stay cool.
-While a return to operational profitability is expected during the fourth quarter of 2017, the Issuer cannot be certain that it will be in compliance with the Maintenance Test as at 31 December 2017. Consequently, the Issuer will request that the Holders temporarily waive the Issuers undertaking of the fulfillment of the Maintenance Test as set out in the Terms and Conditions, the company said in a release.
In the latest report, the company says it delivered continued strong growth year-on-year but delayed aircraft deliveries and maintenance cost overruns lead to unsatisfactory financial results for the quarter.
-While we continue to adapt our organization, cost structure, and fleet sizes to market requirements, we forecast that we are past the worst of our transition period, and will be able to produce better results in the quarter and year to come, the latest Report reads.