newstodate.aero

Aug 07, 2023 (newstodate): The partnership between the German/Estonian carrier Marabu and Estonia's troubled company Nordic Aviation Group seems to have run into troubles.
   Last month, Jan Palmer, CEO and Chairman of the NAG Management Board since 2018, submitted his letter of resignation to the Supervisory Board.
   The Board approved his resignation on July 26, and appointed Remco Althuis, the lead of the turnaround consultancy team, as the company's new interim CEO.
   To restructure the company's business, the Board has contracted international aviation consultancy Knighthood Global for a period of up to six months, during which all operations and cost structure of the company will be revised.
   According to the chairman of the Supervisory Board, an additional reason for the current status of the company, besides unfavorable external conditions, is an overly optimistic expansion strategy adopted late last year, which in turn has negatively affected the financial situation of the company.  
   But Marabu is also experiencing turbulence at its HQ corridors as its CEO, Paul Schwaiger, since the launch of the carrier has resigned citing personal reasons.  
   Marabu has then appointed Axel Schefe to take over as interim CEO.
   Adding to the plights are also complaints from Marabu pilots about unsatisfactory working conditions - and one pilot has filed a report to the German Civil Aviation Authority urging the regulator to open an investigation of Marabu Airlines.
   The capacity provider NAG is holding the AOC establishing the virtual carrier Marabu Airlines with a fleet of three Airbus A320neo aircraft on an ACMI contract and crew bases at the two German airports, with plans to grow the fleet further to six units at a later stage.