Comments:Iraqi Airways drops flights to United Kingdom and Sweden
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|Dissolving the airline||12||14:20, 27 May 2010|
|Comments from feedback form - "good"||0||15:49, 26 May 2010|
If they honestly believe that by dissolving the airline and reforming it they can escape returning what they have stolen, they are in for a serious shock next time they return to the UK.
The debt was never held with the airline, instead the Government, if Iraqi becomes private Kuwait can do nothing to the airline only the Government.
That might work in Iraq, but in the UK it is likely to be held that the new owner inherited the theft and hence the responsibility to pay back. The court will recognise that it is the same airline and so dissolving it is a waste of time. If they want to try that trick they'd save time just selling it and crossing their fingers somebody will be sill (or brave) enough to try it.
As far as I'm aware the UK can't do anything to it unless they have evidence to say that the new owners stole the aircraft and the part. I think Kuwaiti have acted immature, yes there was a debt, yes Iraq should have sorted it, but Kuwaiti acted completely un proffesional. On another note, if a private investor takes over, the airline will be rebranded to something like Iraqi Airlines or Air Iraq therefore wiping debts like Olympic Airlines did with Olympic Airways.
That possibly should be the case - but it isn't. Once it is established the airline is the same entity, then it becomes liable for the thefts again, since they were effectively conducted by Iraqi; at the very least, Iraqi accepted stolen goods.
A better bet might be to asset strip the airline - sell off the aircraft etc individually, rather than selling an intact airline.
Who knows, we'll have to wait and see what the outcome is.
It'll certainly be interesting to watch. I hope they can resolve this get to the UK sometime.