Court clears Irish regional CityJet to exit examinership

An Irish High Court has cleared Irish regional carrier CityJet to leave the formal financial restructuring process it entered in April as the coronavirus crisis struck. CityJet entered Examinership - a process in Irish law under which companies can protect themselves from creditors while they restructure - on 17 April. “After almost four months, CityJet today exited the Examinership process and, although much smaller than before, we now have a solid business upon which we can continue the development of the airline and seek to grow again as the market recovers,” says CityJet CE Pat Byrne. The Irish Times reports the slimmed down CityJet will have around 140 positions - compared with 400 roles before the crisis. ”The process of Examinership and the necessity to resize the business regrettably came at a significant personal consequence for many and our thoughts go out to the many loyal and committed colleagues who sadly have lost their jobs with CityJet,” says Byrne. ”I sincerely hope, as the company finds new opportunities, that we will once again be able to provide increased levels of employment."<br/>