SkyEurope announces investment agreement with FOCUS

SkyEurope Holding AG and FOCUS Equity B.V. have concluded an investment agreement for the injection of equity of up to EUR 16.5 million by FOCUS Equity

B.V. subject to various conditions including but not limited to a successful outcome of the restructuring proceedings relating to SkyEurope Airlines a.s. and regulatory approvals such as by the Austrian Takeover Commission.

SkyEurope Holding AG and SkyEurope Airlines, a.s. have also executed a short-term €5 million bridge loan agreement with Chain Box Technology Ltd, a company registered in England and Wales. This bridge loan agreement will be used for working capital requirements until permanent funding is secured under the investment agreement with FOCUS Equity B.V.

SkyEurope Airlines, a.s. has launched the sale of its winter 2009/2010 flight timetable. SkyEurope Airlines, a.s. also signed a long-term lease agreement for two additional Boeing 737- 300 aircraft. By securing these two additional units, SkyEurope has completed its aircraft fleet renewal. The aircraft will be leased from Slovak carrier AirSlovakia.

(c) Centre for Asia Pacific Aviation. Date posted: 5-Aug-09