High Court confirms appointment of examiner to CityJet

The High Court has confirmed the appointment of an examiner to the regional airline CityJet. Justice Michael Quinn said Monday he was satisfied to appoint insolvency practitioner Kieran Wallace of KPMG as examiner to CityJet. The decision gives Wallace, who earlier this month was appointed on an interim basis, up to 100 days to formulate a scheme of arrangement with the airline’s creditors which must then be approved by the court. The airline and its subsidiaries, which flies routes on behalf of other airlines including SAS and Aer Lingus, and employs 1,175 people, 417 of whom are based in Dublin, believes it can continue. There were no objections to the airline being granted the protection of the court from its creditors. Rossa Fanning, for CityJet, said some creditors were supporting the application. The airline said it became insolvent arising out of financial difficulties which were exacerbated after its fleet of over 30 aircraft was grounded due to the Covid-19 outbreak.<br/>