ZCZC
BCN-08
FRANCE-ECONOMY-TRANSPORT-AVIATION
French XL Airways declares insolvency
PARIS, Sept 20, 2019 (BSS/AFP) – French airline XL Airways on Thursday
declared itself insolvent and asked to be placed in receivership, the company
said in a statement.
“For over a year, the management has negotiated with several potential
buyers. These negotiations have not been successful,” said the company, less
than three weeks after another French airline, Aigle Azur, was forced to make
the same decision and enter insolvency.
“The aim is to ensure that wages are paid and to search rapidly for a
buyer,” it continued.
On its website Xl Airways apologised to its customers.
“Due to its financial difficulties, we are deeply sorry to have to
announce that XL Airways is stopping selling tickets effective today,” it
said.
Based at Paris’ Charles de Gaulle airport, the company employs 750 people
and transports 700,000 passengers per year mainly on long-haul flights to the
Antilles, the Caribbean, the Indian Ocean and the United States.
Some of its scheduled flights will be cancelled, the company warned,
asking passengers to check the status of their flight on the website
www.xl.com.
Aigle Azur cancelled all flights and ticket sales this month after filing
for bankruptcy protection, a move that stranded thousands of passengers,
mainly on the airline’s core Algeria routes.
On Monday a French commercial court called for new bids for the Aigle Azur
airline, after an initial round of takeover offers for the stricken carrier
and its 1,150 employees were deemed unacceptable.
BSS/AFP/HR/1050