Manufacturing Industry
Air Polonia to sue Irish investor
Airline Industry Information, Dec 20, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Polish low-cost airline Air Polonia has filed a complaint in Warsaw against an Irish investor that pulled out of a financing deal.
The unexpected withdrawal from the deal led the airline to suspend all flights on 5 December and start bankruptcy proceedings.
Air Polonia wants prosecutors to investigate whether Conor McCarthy, a former operations director for Irish budget airline Ryanair, and his company Crescent PlaneConsult Group Holding misled Air Polonia by promising to invest USD10m (EUR7.5m) and then cancelling the deal at the last moment, it said.
PlaneConsult officials declined to comment on the accusations, reports The Associated Press. In a statement from 6 December the Irish company said it based its decision on financial grounds.
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