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FlyBalaton operator debts estimated at HUF 600m-700m

FlyBalaton airport operator Cape Clear Aviation, which the Zala County Court placed under liquidation on November 10, has accumulated debts of an estimated HUF 600 million-HUF 700 million (€2.25 million-€2.62 million), President-CEO Jenő Varga of liquidator Vectigalis told MTI on Monday evening.

Varga noted that there are no precise figures with regard to Cape Clear Aviation's debts because creditors still have several weeks to submit detailed claims against the company.

Public company records, last updated in March for an ownership change, show Cape Clear Aviation is owned by one British and three Irish private individuals, Cyprus-registered Roxino Investments and Budapest-based property company Quadrator.

Cape Clear Aviation announced on October 10 it would close FlyBalaton, which is located in Sármellek (SW Hungary), for the winter season, reopening the airport in April.

Cape Clear Aviation said that about 15,000 passengers used the airport between April and October. Almost 120,000 passengers used FlyBalaton in 2008, though its biggest partner, Irish low-fare airline Ryanair, stopped flights to the airport in October of last year. After the Ryanair flights ended, FlyBalaton shut down until April.

Cape Clear Aviation signed a 99-year lease for the airport with local councils in 2004. (MTI-Econews)