Cityjet seeks auditors’ advice on navigating Covid-19 crisis

Cityjet is seeking advice from its auditors Deloitte and other parties as it navigates through the Covid-19 crisis, the airline confirmed.

The Dublin-based carrier flies mainly short-haul routes under contract to European airlines such as Scandinavia’s SAS and Air France KLM, which have largely grounded flights to comply with sweeping travel restrictions.

Cityjet said that along with all other airlines it was reviewing its activities as a result and was speaking with “external agencies and stakeholders in relation to guidance and support during this period, including our auditors Deloitte”.

The company added that it recognised the importance of getting guidance from its stakeholders and auditors on “navigating its way through this difficult period of inactivity” and on preparing to restart operations when conditions allowed.

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Wet leasing

Cityjet, led by founder and chief executive, Pat Byrne, shifted over the last few years from flying its own scheduled services to focus on "wet leasing", that is providing craft and crew to operate routes for other airlines .

Under those agreements, the client airline sells the tickets and pays Cityjet a fee for providing the craft and crew to fly on the route.

The airline operates a Dublin-to-City of London Airport service for Irish carrier, Aer Lingus, among others.