Skywork is on the ground. Probably next week will be decided whether the bankruptcy procedure is initiated. On request, Skywork refused to provide information for legal reasons. The company and the court would have contact. This will now check whether the bankruptcy can be opened. A decision is expected in the course of the next week. The court confirms this.

The bankruptcy office Bern-Mittelland only becomes active after the court decision. It did not want to provide any further information about the ongoing procedures. That the bankruptcy can still be averted, but very unlikely. If Skywork still finds a lender, the company could theoretically withdraw the bankruptcy request. The silence of Skywork, however, suggests that even the airline itself does not expect such a rescue.

Doubtful share deal

There is no information about the increase in the share capital, which was published last week in the Handelsamtsblatt, but had already taken place in the spring. The increase of the share capital from 13.2 to 27.7 million franc meant, however, no inflow of new money, but only the conversion of debts into share capital. When it comes to bankruptcy, the owners of this document must make a large copy. It is likely that the company could no longer meet the requirements. Why the debtors agreed with such a rather unfavorable deal can be because they no longer expect their assets will ever reappear.

How much can be obtained from the insolvent company remains unclear for the time being. The Skywork fleet consists of seven aircraft, according to the aeronautical register, but only one turboprop aircraft is owned by Skywork. The jets are owned by other companies and therefore can not be sold.

On the short line

Because the grounding was strictly averted in the autumn of 2017, the Federal Civil Aviation Bureau (Bazl) had kept the company short. From now on, the company had to prove its solvency on a monthly basis. However, the end was already foreseen from June. According to Bazl spokesman Urs Holderegger, the financial situation of the airline was already "very tense".

Why did the federal office not withdraw the operating license from the airline about two months ago? Skywork could still convince the Bazl at that time with a potential main investor. Why this has suddenly withdrawn, remains a mystery. "We did not expect that", says Holderegger on request. Skywork's management decided to file for bankruptcy on their own initiative after the investor's leap. The Bazl did not have to intervene.

With the Skywork base, Bern Airport loses most of its scheduled flights: what is your opinion about the basis and future of the airport? Discuss with
stadtgespraech.derbund.ch.
(The federal government)

Created: 31.08.2018, 20:38 clock