newstodate.aero

Feb 27, 2023 (newstodate): The tour operator Apollo's decision to end its cooperation with charter carrier Novair dealt a heavy blow to the airline.
   -So far, Novair's production is paid by Apollo till the end of October 2023, so rumors circulating of the imminent closure of Novair are unfounded, says Lars Thuesen, owner of Novair since April 2021 through Jet Nordic Group.
   -All efforts are now focussed on sourcing new profitable production from November '23 for Novair's two Airbus A321neo and crews; should this end without a result, as is admittedly currently the more likely scenario, Novair will be closed down as a solvent company.
   -Novair is actually in a strong financial situation with no debts, a sound cash balance and income secured till the end of October - all enabling us to secure profitable retirement plans for our employees.
   -At the same time, we are negotiating with potential operators to take over the two Airbus aircraft that are high in demand; this will hardly pose any problem in today's market, says Mr Thuesen.
  
   As reported earlier this month, Novair lost its key contract with tour operator Apollo that has instead turned to the Swedish carrier BRA to provide capacity for its charter operations under a three-year contract taking effect from the end of October 2023 when the current contract with Novair expires.