Polish leisure carrier Small Planet Airlines Sp. z o. o announced it has entered into restructuring (accelerated arrangement proceedings) under the Polish law. This step has been planned as an integral part of the business administration changes in Small Planet Group.
Small Planet Airlines Sp. z o. o, the biggest Polish charter airline by passengers carried in 2017, operated 10 aircraft in Poland last summer. The aim of restructuring is to reduce the number of aircraft and attract additional financial investment.
“Small Planet Airlines Poland holds EU Air Operator’s Certificate, has many years of experience serving the biggest Polish tour operators and worked with almost 100 experienced pilots and 300 cabin crews during this summer season”, says Bartosz Czajka, CEO of Small Planet Airlines Sp. z o. o “I believe this is an attractive investment opportunity, especially having the restructuring plan in place. We also own valuable slots in Warsaw Chopin airport and highly demanded summer-peak slots at Greek islands, like Zakynthos, Rhodes, Heraklion and other”, he adds.
Small Planet Airlines Poland is about to finish all summer season programs and company already started reducing the number of aircraft within the fleet for upcoming winter season when demand drops significantly in the local market.
Small Planet Airlines Sp. z o. o is an independent company, so restructuring in the Polish entity will have no effect on the flights operated by Small Planet Airlines Lithuania: it will continue flying from Vilnius and foreign bases as planned. Cambodian company, operating under Small Planet Airlines brand, will continue its usual operations as well.