Prima Charter fails to escape bankruptcy

On Tuesday the bankruptcy of charter airline Prima Charter (PC) which ceased operations in January 2008 was announced. The operator has been in trouble since 2006, but in August 2007 completed a restructuring program.

However, in October 2007 Puls Biznesu wrote that PC's largest shareholder, debt collector agency Cash Flow (CF), had been hiding the full extent of the tragic state that the carrier was in.  Apart from CF, which lost zł.8.3 million in the investment, Krzysztof Fijałkowski and Jacek Łukjanow will lose over zł.10 million, Opera TFI - zł.12 million and well known investor Krzysztof Moska - zł.5 million.

Travel agent Exim Tours will be the worst hit with a loss of zł.20 million.

The bankruptcy is also the defeat of Krzysztof Szymański, the airline's CEO, who wanted to change the company's profile from chartering to renting airplanes together with crew at the beginning of 2008. However, there was no interest in investing in a company with debts exceeding zł.20 million. (Puls Biznesu, pp. 6-7) K.K.