UK based cargo carrier MK Airlines has resumed a near-full capacity flight programme since resuming operations on 20 June after the joint administrators secured an initial funding agreement with Belfairs Management-owned Transatlantic Aviation.
It marks a rapid change in fortunes for MK Airlines, which had suspended flights and entered administration ten days earlier after failing to complete talks on securing additional funding.
The carrier though maintained its air operator’s certificate (AOC) throughout this period with a view to completing a refinancing deal and resuming operations.
In a statement MK Airlines says it was able to resume flights on 20 June after administrators from BKL Business Recovery secured an initial funding arrangement with Transatlantic Aviation, which is part of the Belfairs Management Group of companies. According to the Belfairs website, Transatlantic Aviation owns 18 Boeing 767s and a couple of Boeing 747s.
MK Airlines CEO Mike Kruger says: “We are delighted to be airborne once again. Within the next weeks and months we hope to return to a level of trading that existed prior to the appointment of our administrators.
“Whilst we still have some way to go to complete a formal long-term agreement for MK Airlines, this initial funding arrangement with Transatlantic Aviation delivers what we hope will lead to a viable and prosperous long-term business strategy.”
Lead administrator at the carrier, Mike Oldham says: “Upon our appointment we talked about our hope that the company could resume flying operations in the short-term.
This initial investment from Transatlantic Aviation delivered that objective and now presents us with an opportunity to look more confidently towards the future.
“Over the next few weeks we will be working to propose a formal way forward with MK’s creditors. If we can reach that agreement then we hope to also deliver additional funding that will secure MK’s long-term viability as a highly regarded all-cargo airline.”
Source: flight global's premium sister partner Air Transport Intelligence news
Source: Flight International
