newstodate.aero

Jul 27, 2020 (newstodate): Among this summer's stream of sad news from the aviation industry was the filing on July 21, 2020, for bankruptcy by the Danish charter and ACMI carrier Jet Time.
   The carrier’s fleet had been grounded since March 23, 2020, due to the ongoing coronavirus crisis, announcing by the end of June the lay off of 313 out of 342 employees.
   On June 25, the Danish government presented its relief package to Danish airlines, but the package did not benefit the charter airlines, only the scheduled Danish airlines, primarily SAS, the domestic routes and local airports.   
   -To avoid redundancies and loss of jobs in Denmark, Jet Time would need long-term full coverage of all costs including salaries. In addition, we would need access to state guarantees -like SAS- to secure sufficient liquidity until the summer 2021, where we expect to resume our charter production, Birthe Madsen, Jet Time VP Business Development & Organization, told newstodate on June 29, 2020.
   This hope did not materialize, and Jet Time ended up with a fleet comprising nine aircraft including three Boeing 737-700 and six Boeing 737-800 aircraft on lease contracts with various leasing companies, down from 11 aircraft including five Boeing 737-700 and six Boeing 737-800 aircraft earlier in the year.
   While announcing the demise of Jet Time, the company's owner, Lars Thuesen disclosed plans for a rebound named Jettime registered already earlier this summer as clouds darkened, and planned for returning business by the next summer season.