SkyEurope’s management upbeat, as creditors held at bay amid further restructuring

Long-troubled SkyEurope has announced that a Bratislava District Court has granted it “creditor protection”, basically a form of bankruptcy avoidance, allowing it to continue to operate while it undergoes a restructuring of its operations. [1097 words]

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This report contains the following subheadings:

• Results for Mar-09 Quarter dismal
• Enforced strategy of cutting routes and fleet has caused a drop in costs greater than the drop in revenue
• While costs were cut, passenger confidence evaporated.
• Some good news and some bad news in April and May traffic figures
• Outlook: Scraping by

This report contains the following charts and tables:

• SkyEurope financial highlights for 3 months ended 31-Mar-2009
• SkyEurope EBITAR margin, EBIT margin and net margin: 1QFY07 to 2QFY09
• SkyEurope cost breakdown: 2Q2008 vs 2Q2009
• SkyEurope operating revenue growth and passenger number growth: 1QFY08 to 2QFY09