Small Planet Airlines, despite signing an LOI with an investor, has not shown enough evidence to the Lithuanian CAA following a meeting on 27 November 2018 in which the airline shared its restructuring plan and financial data and forecasts.
Small Planet is adamant it can control its financial situation as it currently faces financial difficulties. However without an investor, restructuring proceedings may be initiated by the courts.
The CAA will decide the fate of the airline on 28 November 2018 in response to the company's financial performance and operating prospects.
Small Planet also recently paid US$927,000 debt for an A320 detained in Vilnius, on behalf of Lithuanian Airports.