On 7 November 2017, West Atlantic AB (publ) (the “Company”) announced in a press release that the Company planned to initiate a written procedure in accordance with the terms and conditions of its outstanding bonds, where bondholders would be requested to approve a waiver, during a certain period, regarding the undertaking to fulfil the “Maintenance Test”, and that a notice to the written procedure would be sent to bondholders in due course. The Company still plans to initiate such a written procedure, but after feedback from some of its bondholders and ongoing discussions with potential external investors, the Company has decided to postpone such notice to a written procedure until further notice.
For further information, please contact:
Magnus Dahlberg, CFO
Telephone: +46 (0) 10 452 95 49
This information is information that West Atlantic AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 2017-11-10, 14.00 CET.
About West Atlantic
The West Atlantic Group is one of the market leading providers of dedicated airfreight services to European NMO’s and airfreight capacity to Global Integrators and Freight Forwarders. The Group has a well-established geographic network and operates an all-cargo fleet of more than 50 aircraft comprised of B767, B737, BAE ATP and CRJ-200. West Atlantic was founded in 1962, employs 477 staff is headquartered in Gothenburg, Sweden and has two operating airlines, with one AOC in the UK and one in Sweden. For FY 2016, West Atlantic reported revenues of MSEK 1,320 and EBITDA of MSEK 128.
West Atlantic AB (publ) Org. no: 556503-6083, Box 5433, SE-402 29 Gothenburg, Sweden