Small Planet Airlines Lithuania has filed for a restructuring process under the Lithuanian law.
According to the airline, the company will maintain its operations as planned and without a negative impact on the passengers.
“Small Planet Airlines Lithuania continued to operate successfully this year – we expect our operational profit to reach 3,4 million EUR by the end of 2018. However, the debts accumulated due to the situation in Germany and Poland will be greater than profit”, explains the CEO of Small Planet Airlines Lithuania, Kristijonas Kaikaris.
During the last two months, financial difficulties forced Small Planet Airlines Sp. z o. o. (Poland) and Small Planet Airlines GmbH (Germany) to start restructuring processes as well. The German entity continues to operate during the search for a new investor, whereas the Polish company has already reduced its fleet.
Small Planet Lithuania has confirmed that it will lay of some of its staff. In the upcoming Winter season, two of the airline’s Airbus A320 will be leased to the new partner Bamboo Airways in Vietnam. Another two aircraft will fly in cooperation with Small Planet Airlines Cambodia, a local leisure carrier operating under the Small Planet Airlines brand in Cambodia.
Nick Wenzel founded International Flight Network in 2016. He is the Social Media Manager and an Editor for IFN.news.