newstodate.aero
Oct 31, 2018 (newstodate): Time is running out for Small Planet Airlines Germany.
Today, October 31, 2018, is the final deadline for the airline's possible survival, and if the reconstruction process has not resulted in the take-over by a new owner, the carrier will lose its AOC.
So far, the authorities has allowed Small Planet Airlines Germany to continue flight operations pending the outcome of the reconstruction after the filing of the bankruptcy case.
Earlier, the German logistics company Zeitfracht was known to be interested, but the company pulled out again.
There are now seven Airbus aircraft on the airline's AOC, but even if the reconstruction process should end with a new investor, the fleet will shrink to only two to four aircraft in the future.
Small Airlines Poland is also in a reconstruction process, and now even the Group's Lithuanian carrier is under pressure.
Small Planet Airlines Lithuania is still performing successfully, but will have to write-off debts due the German and Polish subsidiaries which will strongly affect its economic performance.
Today, October 31, 2018, is the final deadline for the airline's possible survival, and if the reconstruction process has not resulted in the take-over by a new owner, the carrier will lose its AOC.
So far, the authorities has allowed Small Planet Airlines Germany to continue flight operations pending the outcome of the reconstruction after the filing of the bankruptcy case.
Earlier, the German logistics company Zeitfracht was known to be interested, but the company pulled out again.
There are now seven Airbus aircraft on the airline's AOC, but even if the reconstruction process should end with a new investor, the fleet will shrink to only two to four aircraft in the future.
Small Airlines Poland is also in a reconstruction process, and now even the Group's Lithuanian carrier is under pressure.
Small Planet Airlines Lithuania is still performing successfully, but will have to write-off debts due the German and Polish subsidiaries which will strongly affect its economic performance.