French regional operator Air Littoral’s future is on a knife edge following the failure of Seven Group–potential buyers of the ailing airline–to pay the purchase price to a Montpellier commercial court. The money was originally due on November 15, but the court extended the deadline to December 18. Seven Group president Mario Palmonella said the money had been delayed by formalities at the London Stock Exchange. Meanwhile, Air Littoral, which declared bankruptcy last August, is authorized to continue flying.
Air Littoral’s future in balance
- January 29, 2007, 5:29 AM