in Business & Finance

Syphax Airlines denies AOC reapplication rejected

Posted 4 September 2017 · Add Comment

Tunisia's Syphax Airlines has denied reports in the Tunisian media claiming its application to the North Africa state's civil aviation regulator seeking the reinstatement of its AOC had been flat out rejected, reports ch-aviation.

In a statement last week the resurgent carrier said that CAC had not rejected the application outright, but had, rather, requested additional information before proceeding.

"Contrary to what has been said, the CAC responded favorably to the resumption of Syphax's operations and asked the company to update its technical and financial files," it told Kapitalis magazine adding that there would be a postponement pending the finalization of the documents.

The Court of Sfax approved the carrier's reorganisation plan in July with its TND230 million dinar (USD93.9 million) debt pile restructured for payment over a revised period.

As part of its exit from judicial oversight, the company has drawn up a business plan with provision for the establishment of a second carrier - Maghreb Airlines which is presumed to be Syphax Airlines' NewCo - with a share capital of TND10 million (USD4 million). A strategic partnership has been signed with an unspecified European operator for the provision of two CRJ-900s sourced from an unspecified US firm.

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