70 million francs are missing to finish the month ! the company could be in suspension of payments as soon as June 23rd. Marc Rochet, the CEO, has free hand to react.
Air Liberté in liquidation by the end of June ? We can fear it. Normally, with the 500 million francs invested by shareholders, the Swissair group and Marine-Wendel would have some cash until June 30th. But 70 million francs are missing to finish the month for the two French airline companies (AOM and Air Liberté) which have been unified under the name of Air Liberté last March 25th.
Consequence : the company could be in suspension of payments as soon as June 23rd. While the supervisory board, which has had this alarming review, has given CEO Marc Rochet free hand to take necessary safety measures. Liquidation included.
Yesterday, the 5.000 employees of the company have not received this bad news only. Marine Wendel, one of the two shareholders of this "second French air pole" with SAirGroup, has refused once again to finance the restructuring plan of May 21st. Still, SAirGroup has always declared that it would financed this plan of 3 billion francs on its own. Easy to guess what will follow. As far as the takeover 3 billion franc offer from the British company AITI is concerned, an offer which was not very clear, it has failed. AITI which did not seem to have enough money for such an acquisition, withdrew yesterday.