The Constitutional Court has suspended hearing a lawsuit filed by air company Georgian Airways. The Constitutional Court published the relevant decision on the Legislative Herald.
The request to withdraw the lawsuit was made by Georgian Airways itself on February 12, 2021, the company's statement was considered by the court and on April 13, it suspended considering the lawsuit.
Georgian Airways filed a lawsuit in the Constitutional Court on November 27, 2018. The company then argued that the tariffs imposed on the services of the Civil Aviation Agency were an unconstitutional tax for the company. In a lawsuit filed at the Constitutional Court, Georgian Airways wrote that the airline had difficulty in operating due to these tariffs.
The Constitutional Court accepted the lawsuit on October 10, 2019, but two years after the start of the hearing, the company itself requested its suspension, and now the hearing of the lawsuit has been officially terminated.
Georgian Airways is currently under rehabilitation mode and its owners are trying to sell the company in vain.
Georgian Business Brokerage could not sell Georgian Airways. This was announced by Roman Bokeria, the founder of the brokerage company, who was the CEO of Georgian Airways until October 2021.
"We removed it from sales in early April. Unfortunately, we could not sell the air company," Bokeria replied.
Georgian Airways was brought for sale in January this year and its value was USD 150 million.
According to Roman Bokeria, as of the legislation a foreign party cannot own a majority stake in the Georgian National Airline, so only 49% of the company can be sold through a deal.
As you know, Georgia has signed an "Treaty On Open Skies" with the European Union, according to which the Georgian side must own at least 51% of the country's national airline. Correspondingly, only residents of non-EU countries, which are not members of Treaty Open Skies, can buy 100% of the company.
Georgian Airways has been in the process of insolvency/rehabilitation since December 31, 2021.
