newstodate.aero

Apr 20, 2020 (newstodate): As most other players in the airline industry, the Danish charter and ACMI carrier Jet Time is hit hard by the current downturn.
   -We had the best-ever H1 results ending February 2020, again proving the successful turn-around of the company launched by early 2017. And then came the coronavirus, says Jorgen Holme, Jet Time CEO.
   -Like all other companies, we are now developing various scenario to bring us into uncharted new waters. We cannot know how the markets will develop, nor how long the transition period will take. What we can do at this stage is to stay in a close dialogue with lessors, partners, authorities and the political level to seek clarification along the road.
   -I am actually quite satisfied to note the close attention from the politicians, and we have benefited from the first aid packages from the Danish state. What is needed now is to know how the next forward-looking aid packages may support our industry that was the first to feel the brunt of the current crisis - and among the last to get out of it again. We all share a strong need to know what is to be expected..
   -On the positive side we have seen a heart-warming strong support and loyalty among our staff, 95 percent of which has now been sent home with payments, while everyone except the lowest-paid staff has accepted a 25 percent reduction in payments.
   -After the completion of the repatriation operations, the entire fleet is now grounded, with a minimum of staff engaged in maintenance of the aircraft pending better times to return.
   -In short: This is indeed a most challenging period, but I am encouraged by the strong staff loyalty and spirit in spite of this crisis, says Mr Holme.