Courts / Ireland / Report
Revenue won't oppose CityJet survival scheme
Summary
During a brief hearing before the High Court, the Revenue Commissioners announced they would not oppose an application to approve a survival scheme for the regional airline CityJet. Mr Justice Michael Quinn heard that Revenue had obtained clarification from the airline's court‑appointed examiner, Mr Kieran Wallace of KPMG, on matters he considered important. The examiner recommends approval of the scheme, which enjoys the support of most of the airline's creditors. The hearing to formally approve the scheme is scheduled for later this week. If approved, the arrangement with creditors would allow CityJet to continue operating as a going concern.
Who, what, where, when and why
What: Report matter: Revenue won't oppose CityJet survival scheme. Procedural stage: hearing_or_decision
When:
- 2020-07-28 Publication
Why: Last April, the airline sought the protection of the courts, claiming it was insolvent because of financial difficulties which were exacerbated after its fleet of over 30 aircraft was grounded due to the Covid-19 outbreak. CNI source report
Places mentioned
- High Court
Topics
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