The Commercial Court of Pointe-à-Pitre has ordered the judicial liquidation of Air Antilles. The ruling was handed down on Monday, April 27. It explains the rejection of the takeover bids submitted since the company was placed under receivership on February 2.
“During the observation period, the administrator concluded that it was impossible to present a recovery plan through continued operations, given the size of the liabilities, estimated at over 56 million euros, and in light of the persistent operating losses,” the court order issued on Monday explained.
Three acquisition offers had been shortlisted. The first came from a consortium of investors led by Pewen for a purchase price of €200,874. Its plan called…