MK Airlines suspends service temporarily

MK AIRLINES has temporarily Air & Road Overnight Express Breakbulk suspended services although its Air Operator Certificate has not been suspended. All other operations have been maintained with a view to achieving a rescue of the company. This was the statement released to FTW by the airline’s communications officer from the UK last week. “For several months MK Airlines has been in discussion with several interested parties about potential investments in the business to refinance and to reposition the airline with more efficient aircraft. These talks have been led by the airline’s founder and CEO, Mike Kruger,” he said. The talks have taken place in what is clearly a difficult economic climate, during which time the airline – like all others – has had to cut costs and restructure its operations because of the extraordinarily high cost of fuel. Due to the company’s financial position, the Board of Directors appointed James Bradney, Andrew Duncan and Michael Oldham of BKL Business Recovery LLP as Joint Administrators on June 10. This was to provide a moratorium to enable discussions to continue with interested parties. Says Mike Kruger: “Talks with potential investors have taken far longer than we would have hoped, not least because of this difficult economic climate. Whilst we continue to discuss options with potential new partners, we are working with the administrators to financially restructure the company and find a way of taking the business forward. Those talks are ongoing and we are all working towards a speedy conclusion and recommencement of flight services. I hope that the administration appointment will be the beginning of a new future for MK Airlines.” James Bradney of BKL Business Recovery LLP, states: “We are hopeful that the company will be able to resume flying operations in the short-term.” The UK-based airline was originally established in 1990 in Ghana. It has developed niche routes into Europe from the emerging markets of Africa, China, India and South America.