newstodate.aero
Mar 02, 2016 (newstodate): While the Danish charter and ACMI carrier Jet Time is fighting to turn around the company to regain financial health after a few years of losses, it is still a sound and going business.
-As everyone else, we started out from a low base, expanded fast and faced increasingly complex challenges. In hindsight, we could have done otherwise but the crux is that as of now were are asking: who is responsible for what, and where do we make money, tuning our organization to match today's and tomorrow's requirements, says Lars Thuesen, Jet Time Chairman of the Board and co-owner of the airline.
-Leaving all that aside, we are indeed doing well in all three segments, the traditional charter operations, the ACMI business and cargo, enjoying satisfied customer responses to our services.
-The charter market out of primarily Denmark but including also some operations out of Sweden and Finland is rather flat, but stable. We have managed to keep our share over the last three years, and the Summer 2016 program seems fully in line with previous years. There are, and will be, hiccups but any sound company should be able to manage these as they occur. We did, admittedly, get too close to the line here, but we have learned the lesson.
-Our second business segment, ACMI is strongly attached to SAS, and the program has now been fully implemented with eight new ATR 72-600. We earlier operated both out of Denmark and Sweden, but the operation has now been focused on services out of Copenhagen and Billund, alleviating the earlier complexity. We also operate older ATR 72-500 aircraft for SAS out of Stockholm, but this operation is being strongly reduced and will disappear after the summer period. We will grow with our customer SAS, but have no own wishes to grow the ACMI business beyond that.
-Finally, in the cargo segment we operate for TNT out of Liege and will add a fifth Boeing 737-400SF freighter by next or the following week. The last remaining Boeing 737-300SF has been phased out, as has also the Boeing 737-300QC aircraft that proved not to be a viable business. Again, we will grow this business on our customer's request and have no plans for expansion beyond that.
-We have indeed had issues with the complexity of the fleet, to a large extent due to the old Boeing 737-300 and ATR 75-200 fleet. These aircraft will, however, be phased out entirely over an 18-month period starting from now until Autumn 2017, leaving us with fleet of factory-new Boeing 737NG and ATR 72-600 aircraft bringing down complexity and costs, says Mr Thuesen.
The airline was founded by a group of Danish investors and operated its first flight on 19 September 2006.
Since January 11, 2016, the company is headed by Teddy Zebitz as CEO, taking over from Klaus Ren, another of the founding members of Jet Time.
-As everyone else, we started out from a low base, expanded fast and faced increasingly complex challenges. In hindsight, we could have done otherwise but the crux is that as of now were are asking: who is responsible for what, and where do we make money, tuning our organization to match today's and tomorrow's requirements, says Lars Thuesen, Jet Time Chairman of the Board and co-owner of the airline.
-Leaving all that aside, we are indeed doing well in all three segments, the traditional charter operations, the ACMI business and cargo, enjoying satisfied customer responses to our services.
-The charter market out of primarily Denmark but including also some operations out of Sweden and Finland is rather flat, but stable. We have managed to keep our share over the last three years, and the Summer 2016 program seems fully in line with previous years. There are, and will be, hiccups but any sound company should be able to manage these as they occur. We did, admittedly, get too close to the line here, but we have learned the lesson.
-Our second business segment, ACMI is strongly attached to SAS, and the program has now been fully implemented with eight new ATR 72-600. We earlier operated both out of Denmark and Sweden, but the operation has now been focused on services out of Copenhagen and Billund, alleviating the earlier complexity. We also operate older ATR 72-500 aircraft for SAS out of Stockholm, but this operation is being strongly reduced and will disappear after the summer period. We will grow with our customer SAS, but have no own wishes to grow the ACMI business beyond that.
-Finally, in the cargo segment we operate for TNT out of Liege and will add a fifth Boeing 737-400SF freighter by next or the following week. The last remaining Boeing 737-300SF has been phased out, as has also the Boeing 737-300QC aircraft that proved not to be a viable business. Again, we will grow this business on our customer's request and have no plans for expansion beyond that.
-We have indeed had issues with the complexity of the fleet, to a large extent due to the old Boeing 737-300 and ATR 75-200 fleet. These aircraft will, however, be phased out entirely over an 18-month period starting from now until Autumn 2017, leaving us with fleet of factory-new Boeing 737NG and ATR 72-600 aircraft bringing down complexity and costs, says Mr Thuesen.
The airline was founded by a group of Danish investors and operated its first flight on 19 September 2006.
Since January 11, 2016, the company is headed by Teddy Zebitz as CEO, taking over from Klaus Ren, another of the founding members of Jet Time.