SkyEurope, MyAir.com team up

[bxleu]

Agreement to increase number of destinations from major hubs
More at http://www.praguepost.com/articles/2008 ... eam-up.php

See also Sky Europe's press release, 06/11/08:
http://www.skyeurope.com/en/about-us/pr ... tober-2008:

"SkyEurope Holding AG, the holding company of SkyEurope Airlines and Flyholding, the holding company of Myair.com, a low-cost airline company incorporated in Italy, announced they have jointly entered into a protocol agreement to immediately commence an operating partnership between Myair.com and SkyEurope Airlines and explore an eventual strategic alliance.

The operating partnership aims to achieve operating synergies and economies of scale in the markets where both airlines currently operate as well as commercial and planning functions. With largely complementary networks, the partnership will offer travelling consumers an extended geographical reach and improved destination choice all at price levels that represent the best value in the European sky. Two airlines will exploit economies of scale in order to obtain certain marketing benefits and joint fuel purchasing as well as the integrated exploration of business development opportunities."

[ticketbuyer]

Good move, I think the best policy for small LCCs is to group themselves into alliances like the full-serive carriers. They will then get the benefits of scale to compete with the big LCCs

[beaucaire]

Skyeurope might not exist any longer in two weeks- that move is to late and has no major impact on the default situation they are in.
York Captal Group are to receive 10M € by Nov.12th and another 15 M € by Nov. 15 th..
Some people are daydreaming ...
York has offered 1 € for Skyeurope and will re-brand it Pheaton Holding..

[b-west]

I dunno, I've been hearing for two years now that Sky Europe will cease to exist, and they're still around...

[Boeing767copilot]

Bratislava/Vienna 5 November 2008 – SkyEurope Holding AG ("SkyEurope") announces
that the EUR 10 million loan granted in September 2008 by York Global Finance II S.a r.l.
(“York”) to SkyEurope Airlines a.s, has been extended for one week.
The maturity date of the EUR 10 million bridge loan facility of September 2008 granted by York
Global Finance II S.a r.l. (“York”) to SkyEurope Airlines a.s., the 100 % subsidiary of SkyEurope
Holding AG, has been extended for one week. Therefore, the loan becomes due and payable
on November 12, 2008.



The company’s largest stockholder, York Finance II, wants to buy a 100 percent stake, and the transaction is awaiting approval of the board. Management in the company has cited liquidity problems within the airline. Kika said a decision is expected Nov. 10.

[ticketbuyer]

and will re-brand it Pheaton Holding

Doesn't look like the easiest airline brand name to market

[snowbird]

Sky europe published their prelimiary results 2008
It looks not good at all.
loss of 56 million euro's
And check page 18-21 where the acoountant expresses his concern (which is in contrast with the expectations of the management in the first part of this report)

http://www.skyeurope.com/Documents/Prel ... lts_EN.pdf

15 dec will be an important date. The loan of 33 million euro must be paid back to York Capaital

[snowbird]

Excuse me
It is a loan of 25 million euros to be paid back