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Swe Fly facing bankruptcy

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13:02 CEST+02:00
The owners of airline Swe Fly are expected to decide on Monday whether to put up new capital in order to save the company from bankruptcy.

The company, which flies from England to Pakistan via Stockholm Skavsta, suspended flights over the weekend, leaving 400 passengers stranded in Lahore.

One of the passengers who managed to find another way home was Kicki Nordström from Lidingö. She flew from Skavsta to Lahore last Monday and had her home flight confirmed on Thursday. But on Saturday, she and the other passengers were told at Lahore airport that their flight had been cancelled.

"A horrible experience," Kicki told TT. "Many people were in complete despair."

At Swe Fly's office at the airport there was a note on the door with two telephone numbers - neither was answered. Nor was there a reply from Swe Fly's offices in Stockholm or Lahore.

Instead of a direct flight home, Kicki Nordström was forced to take an 18 hour diversion with another airline.

Swe Fly cancelled Friday's and Saturday's flights from Skavsta. The reason, according to managing director Peter Nyblom, was a lack of cash.

"The owners are in negotiations but these are taking some time," he told TT.

"There is a risk of bankruptcy if no new capital comes in."

Around 400 passengers are stuck in Pakistan. The majority should be able to get home with connecting flights to the UK and Norway.

"This is a big concern. We can't transport them home and our competitors' planes are more or less full," said Peter Nyblom.

Kicki Nordström criticised Swe Fly for not having contacted its passengers:

"I wonder what happened to all of those who didn't have the option of buying a new ticket. Many of them were families with children who were visiting relatives."

Peter Nyblom took over as managing director for Swe Fly in June, with the task of putting the company on the right track.

"The company has had it tough for a while. Pakistan's state-owned airline PIA has driven down its prices and we've had a hard time responding to that. Our problem is that Pakistan is our only destination," he explained.

The Swedish Aviation Authority said on Sunday that it was unaware of Swe Fly's financial difficulties.

TT/The Local

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