AeroSvit, a Ukrainian airline, has been forced to shut down a number of its domestic and international routes in light of crippling debt problems that have left it on the verge of bankruptcy.
In a particularly ominous move, it’s being reported that a number of the airline’s airplanes have been detained by authorities at Stockholm, Tel Aviv and Warsaw international airports. Meanwhile, Ukrainian media reports that the airline has had to shut down dozens of its services over the last few days, leaving hundreds of passengers stranded.
The airline, which launched back in 1994, serves dozens of domestic routes in the Ukraine, as well as international destinations including Bangkok, Beijing, Delhi, Dubai, London, Milan, New York and Toronto.
It was reported by some sources that AeroSvit entered into bankruptcy proceedings at the end of last year after revealing debts exceeding $500 million. However, the airline has been giving out mixed signals – just last week it issued a press release insisting that “it is not bankrupt”, and reassured passengers that it would continue to fulfill all of its commitments to them.