Air Polonia goes bankrupt but SkyEurope rescues passengers

The problems started on Thursday when leasing companies demanded their money for leasing installments for the fleet. Since Air Polonia did not repay the debt it lost its three planes which were secured by the creditors on Sunday. However, still on Saturday tickets for Air Polonia's flights were available through the company's internet site. Mirosław Szeleziński and Tomasz Sudoł, shareholders of Air Polonia, stated that the reason behind the trouble is that a new investor has not capitalized the company. By the end of November it was to be capitalized by PlaneConsult with USD 10 million, but the partner suddenly withdrew from the deal. "I am completely stunned with the investors decision," said Jan Litwiński, Air Polonia's president. The management's decision came as a surprise to all passengers at the Etiuda terminal of Warsaw's Okęcie airport who quarreled violently with Air Polonia's representatives. However, things ended well as company representatives managed to convince SkyEurope to take over all passengers who bought Air Polonia's tickets. (Rzeczpospolita, pp. A1, B1, B2; Gazeta Wyborcza, pp. 1, 24) D.W.