Swedish airline BRA applies for court-administered reorganisation

[STOCKHOLM] Swedish airline BRA has applied for a court-administered reorganisation after demand plunged due to the spread of the new coronavirus, it said on its website on Monday.

The privately held company, most of whose flights are domestic, had said on April 1 it was temporarily discontinuing all traffic between April 6 and May 31 due to a lack of customers amid the Covid-19 pandemic.

Applying for company reorganisation is a form of administration where a court appointee is charged with restructuring the firm with the aim of avoiding bankruptcy.

REUTERS