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CityJet gets court OK to keep flying under rescue plan backed by SAS and examiners, despite shareholder opposition.
A Dublin-based airline, CityJet, has received court approval to continue operations under examinership, with a rescue plan backed by joint examiners and support from key customer SAS.
The plan, opposed by its sole shareholder SARA, aims to secure the airline’s future through investment and existing contracts with SAS and Lufthansa.
The company had €7.7 million in cash against €13 million in creditor claims and €38.5 million in net liabilities as of February.
The judge will issue a full ruling next week.
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CityJet obtiene la aprobación del tribunal para seguir volando bajo el plan de rescate respaldado por SAS y los examinadores, a pesar de la oposición de los accionistas.