Air Poland Sp. z o.o., announced on April 26, 2012 that the company has been forced to file for bankruptcy. Quoting a president of the company Mr. Mariusz Szpikowski, the company is unable to continue its activities in the aviation market due to the fact that the main shareholder, Swiss Capital Holding (SCH) has failed to fulfill its financial obligations toward the company. In February, SCH has made a declaration of taking up shares in the company’s increased share capital. SCH was to take up 11.5 million PLN worth of shares in increased share capital. SCH declared to transfer the amount before February 29, 2012 but failed to do so. Following February 29, Air Poland received several assurances of immediate fulfillment of the obligations.
Regardless of numerous assurances Swiss Capital Holding failed to provide the funding forcing Polish provider to file for bankruptcy. Air Poland considers SCH conduct as intentional and in bad faith, directed on obtaining an unfair advantage. Air Poland has already notified Polish Criminal Prosecution regarding the situation.
Air Poland, formerly an Air Italy Polska has operated on the Polish aviation market since 2007.