Hamburg Airways (Hamburg Helmut Schmidt) has insufficient funds to cover its creditor's claims the specialists handling the insolvency case, White & Case, have said. According to the firm, a court hearing in late February showed the carrier did not possess adequate funds to pay off its mass liabilities.
Having suspended operations in December last year, Hamburg Airways has been in talks with creditors and potential investors - believed to include Poland's Enter Air (E4, Warsaw Chopin) - to help settle outstanding debts and, if possible, to resume operations.
