Type
Bankruptcy
Country
Sweden
Region
Location of affected unit(s)
Sweden
Sector
Transportation / Storage
Land, Water And Air Transportation
Air Transport
51.1 - Passenger air transport

300 - 350 jobs
Number of planned job losses
Job loss
Announcement Date
21 May 2012
Employment effect (start)
21 May 2012
Foreseen end date

Description

The Swedish airline company Skyways Express and its subsidiary company City Airlines have filed for bankruptcy and over 300 employees will be affected. High fuel costs, low ticket prices and increased competition have been reported as reasons for the bankruptcy. Despite the company's effort to maintain the business, its operations were ceased and all flights cancelled with immediate effect, leaving around 12,000 passengers on the ground.

Skyways is a regional airline that flied to over 20 destinations in Sweden and Europe.


Sources

  • 4 May 2012: Göteborgs-Posten
  • 22 May 2012: Svenska Dagbladet

Citation

Eurofound (2012), Skyways, Bankruptcy in Sweden, factsheet number 73601, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73601.