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The Danish leisure airline Jet Time has filed for bankruptcy. The airline has a fleet of eleven Boeing 737 NG aircraft which were mostly used for charter operations.
Every summer, Danish Jet Time usually transports over 400,000 Danes and Northern Europeans to their vacation in Southern Europe. The airline runs several scedueled flights, but is also acitve as a charter and wet-lease airline.
This summer, customers have gone missing, and in June it caused the airline to clear out the organization in the biggest mass firing in the company’s history. Out of 342 employees in Denmark, 313 received a dismissal notice. As July has progressed, however, Jet Time has lost faith that it can survive without the important turnover in the high season of around 800 million kroner, about 87 milion U.S. dollars.
However, the owner of Jet Time, Lars Thuesen, believes that there is a future market for a Danish charter airline. Therefore he has already registered a new company under the name Jettime a / s. The revamped airline is expected to take to the skies as early as 2021.
‘I am convinced that even after the coronavirus, there is room for a strong, independent and profitable Danish charter airline to serve Nordic charter customers’, Lars Thuesen said in a press release.