The corporate restructuring of airline BRA completed as planned

In early April 2020, airline BRA suspended all its flights indefinitely, as an immediate consequence of the Corona pandemic and drastically reduced demand in the aviation market. On April 7, 2020, the company initiated corporate restructuring proceedings with the aim of enabling a restart of operations, with Nils Åberg, Carler Law Firm, as the administrator.

On August 17 and 18, 2020, the compositions proposed by BRA as part of the corporate restructuring were confirmed. The composition decisions gained legal force on September 7 and 8, 2020, whereupon the restructurings were concluded as planned. The first installment of the composition payment has been made to the creditors, while the remaining part is to be paid no later than July 15, 2021.

Airline BRA is currently planning the resumption of regular flights (see https://www.flygbra.se/ for more information).