newstodate.aero

Jul 29, 2020 (newstodate): The new provider of charter flights for tour operators Jettime is in principle ready to start operations as of now.
   The demise of its predecessor Jet Time filing for bankruptcy on July 21, 2020, is now handled by curators sorting out assets and liabilities.
   But on June 8, 2020, the new company Jettime was registered by the investment company JT3H owned by Lars Thuesen, with Jorgen Holme as CEO.
   -The new airline was granted its AOC some two weeks ago thanks to a most flexible and forthcoming handling by the Danish CAA approving the accountability organization of the company that took over 26 employees from Jet Time to command the required competencies from the start, says Lars Thuesen.
   -While half of the lessors of Jet Time's fleet of 11 aircraft wanted redelivery of their aircraft, successful negotiations with the other lessors have resulted in new, flexible leasing agreements covering four Boeing 737-800 and one Boeing 737-700 aircraft on the basis of power-by-the-hour. We thus have the aircraft at our disposal while relieved of monthly leasing costs for a period, at least.
   -We are now facing the next challenge in bringing Jettime into the air: landing contracts with tour operators, with negotiations already underway.
   -Our expectation is to see two aircraft in the air on charter contracts during the coming winter season, planning to grow to six or eight aircraft in summer 2021 provided, of course, that demand will return in the markets, and charter operations will be resumed.
   -Needless to say, unlike earlier crisis in the industry this ongoing situation is marked by complete uncertainty as to when, and how, it unfolds and how long it will endure, shrouding long-term planning in extreme uncertainty.  
   -But we are convinced that there will eventually be a revival on the industry, says Mr Thuesen.