newstodate.aero

Oct 19, 2022 (newstodate): Undaunted by the recurring disruptions in the world of aviation, Danish investor Lars Thuesen has repeatedly expanded and sustained his engagement in airlines and related businesses.
   Alongside a 20 percent stake since spring 2017, now reduced to two percent, in the Latvian carrier airBaltic, Mr Thuesen was the major investor from 2006 through his investment company, Jet Nordic Group, in the now-defunct Danish charter carrier Jet Time that folded wings on July 21, 2020, succeeded by the founding of the charter carrier Jettime in summer 2020, again with Lars Thuesen as key investor.
   In April 2021, the Swedish charter carrier NOVAIR also found a new owner: Lars Thuesen's Jet Nordic Group, replacing its earlier ownership by tour operators Apollo and DER Touristik.
   Speculations were that the two charter carriers might eventually be heading for a merger..
   -Jettime and Novair are indeed cooperating in many ways, but they have remained separate companies, each with an own customer base - Jettime primarily serving TUI, and Novair primarily serving Apollo, with a fleet of Boeing 737 and Airbus A321neo aircraft, respectively.
   -In the short term there would be little synergy in merging the two airlines; as long as customers stick with these two carriers as is the case today, there is no point, nor gains, in changing the situation.
   -However, the market decides; many parameters are to be considered, and many aspects must be taken into consideration. One parameter is the aircraft seat capacity of each carrier, with 221 seats on the Airbus and 189 on the Boeing fleet: which solutions suit the customers better?.
   -As seen today, the situation around Jettime and Novair should indeed change radically to warrant considering a future merger. As long as both TUI and Apollo get what they prefer, don't rock the boat, says Mr Thuesen.