Small Planet Airlines Sp. z o. o, a Polish leisure carrier, has announced it has entered into restructuring under the Polish law, the company said.
The accelerated arrangement proceedings have been planned as an integral part of the business administration changes in Small Planet Group.
The aim of restructuring is to reduce the number of aircraft and attract additional financial investment.
Small Planet Airlines Poland is about to finish all summer season programs and company already started reducing the number of aircraft within the fleet for upcoming winter season when demand drops significantly in the local market.
Small Planet Airlines Sp. z o. o is an independent company, so restructuring in the Polish entity will have no effect on the flights operated by Small Planet Airlines Lithuania. Cambodian company, operating under Small Planet Airlines brand, will continue its usual operations as well.
Small Planet Airlines Sp. z o. o, the biggest Polish charter airline by passengers carried in 2017, operated 10 aircraft in Poland last summer.