The Higher Economic Court of Ukraine has upheld the February decision of the Kyiv Economic Court of Appeal that terminated the bankruptcy proceedings against the AeroSvit airline company.
The airline company’s assets manager Leonid Talan told the Center for Transport Strategies that the court made this decision on May 21.
"The issues of further actions should be addressed to the shareholders," he said.
As reported, the Economic Court of the Kyiv Region began considering the bankruptcy case involving AeroSvit on December 29, 2012. The Kyiv Economic Court of Appeal overturned the decision to initiate the bankruptcy proceedings on February 5, partially upholding a lawsuit by the Boryspil United State Tax Inspectorate to prevent unjustified liquidation of the taxpayer. The airline company appealed to the higher court against this decision.
The airline company operated its own fleet of 29 aircraft - 8 Boeing 767 long-haul airplanes and 21 medium-haul Boeing 737 airplanes - last year. The carrier also used Airbus 320/321, Embraer 145, Embraer 190, and ATR 72 airplanes belonging to partners. AeroSvit was the largest airline company in Ukraine.