No miracle for XL Airways. On October 4, the carrier has been liquidated without continuing activity by the Commercial Court of Bobigny.
The fervent support of all employees of XL Airways to its CEO, Laurent Magnin, and the fighting spirit of the latter did not prevent the inevitable: XL Airways has been liquidated by the Commercial Court of Bobigny on Friday, October 4. “We have done everything possible to save the company”, says Laurent Cotret, lawyer of XL Airways. “We have to face the reality: in France, we do not save companies like in Spain or Germany. Even if a liquidation is dramatic and sad, we kept our dignity. This is not the same as for Aigle Azur. There were no management problems.”
“For years I have been alerting about our incredible fragility against a competition that does not have the same weapons and that we suffer. The results of the French companies are not up to par and do not protect us. What just happened is a humiliation. The mediocre recovery plans for both companies will remain like a black day. And those who live and survive be aware, if nothing is done in the political, economic and public awareness, other disasters will occur”, said Laurent Magnin, in a statement. “With one or two exceptions, the results of our companies, starting by the biggest, can not under any circumstances make us brag. Only humility and work will make us take market share. We have all been losing it for 20 years! This failure is collective, even if everyone and I know it, starting with me, must measure things done or not in terms of strategy and means.”