newstodate.aero
Oct 08, 2018 (newstodate): The German subsidiary of Lithuania's charter and ACMI provider Small Planet Airlines Group came off to a strong start in 2015 - but ran into strong headwinds in September 2018, forcing it to file for a restructuring process.
In short, the airline needs recapitalization and according to German media reports a solution must be found before the end of this week to avoid its exit from the market.
According to the same reports, one German company is in final negotiations to take ownership of the carrier - the owner-managed Zeitfracht Group with activities in six corporate segments logistics and system logistics, aviation, marine, real estate, technical building equipment and consulting.
Among Zeitfracht's current aviation activities are Leisure Cargo offering air cargo management for airlines, WDL Aviation providing aircraft capacity with seven BAe 146 aircraft including three freighters, and a strategic partnership with the Romanian charter carrier Blue Air.
Small Planet Airlines' fleet currently consists of 29 Airbus A320 and A321 aircraft operating some 240 leisure routes from 15 European bases.
The Group also comprises Small Planet Airlines in Lithuania, Poland and Cambodia that will continue to operate their flights as planned.
In short, the airline needs recapitalization and according to German media reports a solution must be found before the end of this week to avoid its exit from the market.
According to the same reports, one German company is in final negotiations to take ownership of the carrier - the owner-managed Zeitfracht Group with activities in six corporate segments logistics and system logistics, aviation, marine, real estate, technical building equipment and consulting.
Among Zeitfracht's current aviation activities are Leisure Cargo offering air cargo management for airlines, WDL Aviation providing aircraft capacity with seven BAe 146 aircraft including three freighters, and a strategic partnership with the Romanian charter carrier Blue Air.
Small Planet Airlines' fleet currently consists of 29 Airbus A320 and A321 aircraft operating some 240 leisure routes from 15 European bases.
The Group also comprises Small Planet Airlines in Lithuania, Poland and Cambodia that will continue to operate their flights as planned.