newstodate.aero
Sep 19, 2018 (newstodate): The German subsidiary of Lithuania's charter and ACMI provider Small Planet Airlines has run into strong headwinds forcing it to file for a restructuring process under the German law.
The German Civil Aviation Authority has no objections that the AOC will remain in place, and all scheduled flights by the insolvent Small Planet Airlines Germany will continue to operate as before, the company says.
Established in May 2015 and in the air from summer 2016 with two Airbus A320 aircraft in the fleet, Small Planet Airlines Germany has been operating 11 aircraft in this summer's schedule, including three A321 and eight A320 aircraft on German registration
The demise of Air Berlin in 2017 opened a niche for other players, and Small Planet Airlines Germany managed by Andreas Wobig and Oliver Pawel, former Germania CEO and CCO, grabbed the opportunities.
The carrier, however, run into severe problems from late delivery of aircraft before the start of the summer season, shortage of crews in the market, unreliable sub charter aircraft, and unforeseeable technical events .
-These factors had a devastating impact on a very intense schedule, which led to flight irregularities which in turn led to increasing cost burden. The financial losses incurred by the German company forced it to file for a restructuring process under the German law, Small Planet Airlines Group CEO, Vytautas Kaikaris, says in a statement.
During the restructuring process, efforts will focus on attracting investors to inject fresh capital into the company.
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.
The German Civil Aviation Authority has no objections that the AOC will remain in place, and all scheduled flights by the insolvent Small Planet Airlines Germany will continue to operate as before, the company says.
Established in May 2015 and in the air from summer 2016 with two Airbus A320 aircraft in the fleet, Small Planet Airlines Germany has been operating 11 aircraft in this summer's schedule, including three A321 and eight A320 aircraft on German registration
The demise of Air Berlin in 2017 opened a niche for other players, and Small Planet Airlines Germany managed by Andreas Wobig and Oliver Pawel, former Germania CEO and CCO, grabbed the opportunities.
The carrier, however, run into severe problems from late delivery of aircraft before the start of the summer season, shortage of crews in the market, unreliable sub charter aircraft, and unforeseeable technical events .
-These factors had a devastating impact on a very intense schedule, which led to flight irregularities which in turn led to increasing cost burden. The financial losses incurred by the German company forced it to file for a restructuring process under the German law, Small Planet Airlines Group CEO, Vytautas Kaikaris, says in a statement.
During the restructuring process, efforts will focus on attracting investors to inject fresh capital into the company.
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.