Nearly 200 airports in UK and Europe could go bust due to collapse in air travel

Nearly 200 airports across the UK and Europe are at risk of going bust within months due to the dramatic collapse in air travel caused by the coronavirus pandemic, the European airports trade body warned on Tuesday.

Airports Council International Europe (ACI Europe), which represents airport operators, said it estimated that 193 out of Europe’s 740 commercial airports face “insolvency in the coming months if passenger traffic does not start to recover by the year-end”.

The trade body said the at-risk airports employed 277,000 people and generated collective annual revenues of €12.4bn (£11.2bn).

Manolete Partners (LON:MANO) work alongside IPs from all of the “Big Four” through to one and two partner specialist insolvency and restructuring practices in the regions. Manolete finances the work of the Insolvency Practitioner and their lawyers to make optimal recoveries for the creditor estates and takes on all the risk.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Manolete Partners

More articles like this

Manolete Partners

Manolete Partners revenue growth of 153% to £19 million

Manolete Partners plc (LON:MANO), the leading UK-listed insolvency litigation financing company, has announced its unaudited results for the six months ended 30 September 2020. Financial highlights: ·      Revenue growth of 153% to £19.0m (H1 FY20: £7.5m); ·      Gross profit up

Manolete Partners

UK facing one million job cuts in 2020 due to coronavirus

Coronavirus could potentially cost one million jobs in Britain this year, with most losses anticipated during the current third quarter, according to a study published on Monday. Job losses could hit 450,000 between July and September, the Institute

Manolete Partners

Pizza Express landlords back insolvency package

Pizza Express moved closer yesterday to securing its future after creditors approved the first step in a restructuring that will cost up to 1,100 jobs. Landlords voted to let the chain complete a company voluntary arrangement (CVA), an insolvency