Bankruptcy looming for Fly Me Europe

The board of Fly Me Europe is to call a shareholders meeting to decide on a write-down of share capital after subsidiary company Fly Me Sweden filed for bankruptcy last week.

The board also intends to chase up the sum of 33.7 million kronor guaranteed by main owner Cognition in conjunction with the new issue of shares.

“The board and CEO deeply regret the consequences and problems that have emerged and continue to emerge for Fly Me Sweden’s former customers, employees, partners and others as a result of Fly Me Sweden AB’s bankruptcy” Fly Me Europe said in a statement.

Fly Me Europe also announced that board member Thommy Nilsson had notified the Swedish Companies Registration Office (Bolagsverket) of his intention to leave the board.