Air Antilles: last chance for rescue
Placed in receivership in early February, Air Antilles is fighting for its survival before the Pointe-à-Pitre Commercial Court. A single takeover bid is currently being examined, submitted by Guadeloupean entrepreneur Pierre Sainte-Luce. The court will deliver its decision on 5 March.
In its ruling to open proceedings, the Pointe-à-Pitre Joint Commercial Court set the date of cessation of payments at 9 December 2025, the date on which the aircraft were grounded by decision of the French Civil Aviation Authority (DGAC). The court found that the company was "unable to meet its current liabilities with its available assets" and was facing a "particularly deteriorated" cash flow situation. Despite this finding, a six-month observation period was granted, as the judges considered that there was still a possibility of recovery.
Only one takeover bid still in the running
Several takeover bids were submitted to the court-appointed administrator. The identity of the investors has not been disclosed, but their plans appear to have been unconvincing or only involved a partial purchase of the fleet. Only one proposal remains under consideration, that of Pierre Sainte-Luce, who is known in Saint Martin through the Wataki clinic, which opened on 29 January. The Guadeloupean entrepreneur is better known in the healthcare sector than in aeronautics, even though he is a pilot.
His proposal, examined at the hearing on 19 February by the Pointe-à-Pitre Commercial Court, was deemed serious but has not yet been fully finalised. According to our colleagues at Guadeloupe La 1re, the businessman, with the support of a group of investors, is proposing to inject €10 million into the company, including €4 million immediately.
Three weeks to convince
Believing that the project still needed to be consolidated, the court granted an extension, and the case was postponed until 5 March. Pierre Sainte-Luce will have to provide additional guarantees by then, particularly in terms of financing, fleet and social organisation. The magistrates are also awaiting details on the project's ability to take on all or part of the 117 employees.
If the project is not deemed sufficiently sound by the magistrates on 5 March, the company will be declared bankrupt. If the takeover project is deemed acceptable, all the necessary steps will still have to be taken with the DGAC, as the company no longer has an operating licence or air carrier certificate. A.B
