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Fokker May File Bankruptcy This Week

Tue., March 12, 1996

Dutch aircraft maker Fokker NV said Monday it plans to file for bankruptcy as soon as this week for Fokker Holding NV and its Fokker aircraft business.

The company is nearing the end of emergency funds received earlier this year from the Dutch government and has been scrambling to find a foreign buyer. The company has also been trying to raise money from the Dutch government and banks to continue operating.

Either scenario means the bankruptcy of the holding and aircraft units - which employ 5,600 workers, Fokker spokesman Leo Steijn said.

“We have to do that if we want to start a new company or find a partner, because no partner will accept our debts,” Steijn said.

Peter van Bers, board member of FNV, the Dutch union which represents the larger part of Fokker’s workers, said the independent scenario is very unlikely.

“The Dutch banks and industrialists are only willing to stick out their necks, if a major foreign aerospace company will be prepared to participate in Fokker,” Van Bers said.

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