Ultimate search for financing at Air Lib

The company could get a loan to survive.

We should know today, after an extraordinary works council, whether Air Lib has the right to play overtime or whether the company will be caught by the liquidation in which is believed to have escaped four months ago. and half. The leaders of the company, which has failed to recover from its recovery in August and continues to lose nearly 3 million francs (460,000 euros) per day, have given themselves until today to present new financing solutions like payday loan consolidation- see here, otherwise, they warned they would file for bankruptcy.

Pressures.

The agenda of the EC, which will begin at 9:30, includes an “examination of the social consequences of a bankruptcy filing”. Is there a share of poisoning in this catastrophism? “It is obvious that this dramatization aims to establish a maximum of pressure on the actors of this file, even if the situation of the treasury is today actually very problematic,” says Paul Fourier, CGT delegate of the company. At the heart of the pressure was Baudoin Libert, one of the two administrators, in open war with the team of Jean-Charles Corbet, Chairman of the Supervisory Board of Air Lib. For months, the director has refused to sign the transfer of assets of AOM-Air Liberté (mainly aircraft) to the buyers. Representatives of the company and directors met yesterday before the Commercial Court of Créteil. According to Air Lib, the president of the commercial court would have required the two directors unreachable last night the transfer of assets before 21 December. “It is likely that it will be initiated tomorrow,” said yesterday Pascal Perri, director of the cabinet of Jean-Charles Corbet. “From then on, the company will pledge these assets against a loan in order to generate cash. That’s at least one point we’ve made. ”

Will this suffice to avoid a bankruptcy filing? Air Lib also relied on his showdown with Crossair, where, it seems, the pickaxe was not so good. Engaged in Nice Thursday, where Air Lib had seized a plane of the Swiss company, the soap opera rebounded yesterday in Zurich, place of an appointment between Jean-Charles Corbet, André Dosé (the president of Crossair) and a lawyer from Swissair. The point of the discussion, which was “not a negotiation”, says Crossair: the 400 million francs (61 million euros) in arrears that Air Lib requires Crossair, a former subsidiary of Swissair. “We had the first contact, says Pascal Perri, where we exposed the situation as a whole.” Other meetings would be scheduled, but there is no indication that Air Lib is approaching its lost millions.

Moratorium.

It was in the ministerial cabinets that the other options were buckled. While rumors are still running about a possible loan from a public financial institution (the name of the Caisse des dépôts has filtered), the Ministry of Transport confirmed yesterday the track of a GIE (Economic Interest Group) tax. This arrangement would mean for Air Lib to buy aircraft currently leased, taking advantage of defiscalisation, then resell them to the GIE with added value to the key before releasing them. “The government is doing its best to ensure the survival of the company,” said last night at the Ministry, where it was recalled that Air Lib has already benefited for a few weeks from a moratorium on its tax debts and (contributions) and a preferential VAT regime.

For his part, Christian Paul, Secretary of State for Overseas, yesterday continued his visit to Martinique. He would also work with overseas authorities on relief solutions. Last night, the CGT Air Lib said he was “rather optimistic” afterward, betting on announcements that should help the company to spend Christmas.