SkyEurope Holding AG in discussions with shareholder York Global Finance II S.a.r.l for 100% sale of Operating Subsidiary

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investments/SkyEurope

Wien (euro adhoc) - As announced on 18 September, SkyEurope Holding
AG ("SkyEurope" or "the Company") appointed Rothschild to explore
strategic and financing alternatives in order to secure the future
and success of the airline. The focus of Rothschild´s work has been
and continues to be to search for an investor in or purchaser of the
airline. To date, Rothschild has received several preliminary
expressions of interest but only one concrete proposal, from
SkyEurope's largest shareholder York Global Finance II S.à.r.l.
("York"). York has proposed acquiring for a nominal purchase price
all the shares in SkyEurope's operating company, SkyEurope Airlines
a.s., and a 3 % share in SkyEurope Hungary Asset Management Limited
Liability Company. York will also assume SkyEurope Airlines a.s.'
liabilities and certain liabilities of the Company. While Rothschild
and the Company will continue to look for alternative investors who
might ascribe a higher value to the Company's airline business, the
board of SkyEurope has decided that the future of the airline is best
served by entering into negotiations with York on the basis of its
proposal whilst remaining open for negotiations based on any other
concrete proposals in the best interest of the Company. Once
completed, the transaction would be followed by a significant capital
injection by York to satisfy SkyEurope Airline a.s.´ liquidity needs.
The transaction is subject to negotiation, corporate approvals (a
notice for an Extraordinary General Meeting will be sent to
shareholders shortly) and regulatory approvals.

end of announcement euro adhoc
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ots Originaltext: SkyEurope Holding
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

SkyEurope Holding AG

Nick Manoudakis, CFO

Tel.:+421 915 782 432

mailto:investor.relations@skyeurope.com

Branche: Air Transport
ISIN: AT0000497003
WKN: A0F5WU
Index: WBI
Börsen: Wiener Börse AG / official market