newstodate.aero
Oct 09, 2018 (newstodate): Did you fasten your seat belts? Let's take-off! says Small Planet Airlines on its website.
For good reason, it seems...
First, the Small Planet Airlines Group's German subsidiary ran into strong headwinds forcing it to file for a restructuring process under the German law in September.
Within a very short period of time, new investors must be found to support the sustained operations of the airline that may otherwise strike ground.
Now, the Group's Polish airline is rushing down the same lane, announcing that it has entered into restructuring, meaning accelerated arrangement proceedings, under the Polish law.
-Small Planet Airlines Poland entered restructuring yesterday and it is a good thing, actually, says Vytautas Kaikaris, Small Planet Airliner Group CEO, in a response to newstodate.
-There was a risk to end up like Primera. But now we are continuing flights, and there are no disruptions to passengers, says Mr Kaikaris.
The same soothing message comes from the Small Planet Airlines Poland writing on the company website:
-I believe this is an attractive investment opportunity, especially having the restructuring plan in place. We also own valuable slots in Warsaw Chopin airport and highly demanded summer-peak slots at Greek islands, like Zakynthos, Rhodes, Heraklion and other, says Bartosz Czajka, Small Planet Airlines Poland CEO, in the office since June 11, 2018, and taking over from Jaroslaw Jeschke who served as CEO from April 2014.
In the German market, Small Planet Airlines seemingly overstretched in its efforts to benefit from Air Berlin's demise - and in the Polish market a new competitor made its entry in 2018: Ryanair Sun that is already eating into the Polish charter market.
Small Planet Airlines' companies in Lithuania and Cambodia are reportedly not affected by the problems in Germany and Poland that are independent companies.
For good reason, it seems...
First, the Small Planet Airlines Group's German subsidiary ran into strong headwinds forcing it to file for a restructuring process under the German law in September.
Within a very short period of time, new investors must be found to support the sustained operations of the airline that may otherwise strike ground.
Now, the Group's Polish airline is rushing down the same lane, announcing that it has entered into restructuring, meaning accelerated arrangement proceedings, under the Polish law.
-Small Planet Airlines Poland entered restructuring yesterday and it is a good thing, actually, says Vytautas Kaikaris, Small Planet Airliner Group CEO, in a response to newstodate.
-There was a risk to end up like Primera. But now we are continuing flights, and there are no disruptions to passengers, says Mr Kaikaris.
The same soothing message comes from the Small Planet Airlines Poland writing on the company website:
-I believe this is an attractive investment opportunity, especially having the restructuring plan in place. We also own valuable slots in Warsaw Chopin airport and highly demanded summer-peak slots at Greek islands, like Zakynthos, Rhodes, Heraklion and other, says Bartosz Czajka, Small Planet Airlines Poland CEO, in the office since June 11, 2018, and taking over from Jaroslaw Jeschke who served as CEO from April 2014.
In the German market, Small Planet Airlines seemingly overstretched in its efforts to benefit from Air Berlin's demise - and in the Polish market a new competitor made its entry in 2018: Ryanair Sun that is already eating into the Polish charter market.
Small Planet Airlines' companies in Lithuania and Cambodia are reportedly not affected by the problems in Germany and Poland that are independent companies.