Air Comet, on Tuesday finally applied for voluntary bankruptcy protection, three months after its licence to fly was withdrawn.

Air Comet, on Tuesday finally applied for voluntary bankruptcy protection, three months after its licence to fly was withdrawn.It’s debts amount to 160 million €, and now the bankruptcy process is finally underway it means that the workers can claim the back pay they are owed.The company was hoping to find a buyer or reach an agreement with the main banks to have given it credit, but finally it has admitted defeat and given in to union pressure. Unions say wages amounting to four or five million € remain outstanding.It also means that those passengers affected by the collapse of the company can now apply to the judge for compensation.It should be noted that despite the size of the debt, the company could find itself with assets larger than the debt because it is still waiting to hear whether the Argentine Government is going to pay compensation to it of 222 million €.

Posted in: Air Comet,on Tuesday finally applied for voluntary bankruptcy protection,three months after its licence to fly was withdrawn.