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• dinsdag 23 juli 2024

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CC | JetAir declares bankruptcy amid pandemic struggles

HomeLandenCuraçaoCC | JetAir declares bankruptcy amid pandemic struggles

WILLEMSTAD – On June 18, 2024, the Court of First Instance of Curaçao declared the bankruptcy of United Caribbean Airlines B.V. and JetAir Caribbean B.V., collectively known as JetAir.

The airline, which offered scheduled and charter flights to and from the Caribbean and South America, has been unable to survive the financial challenges brought on by the COVID-19 pandemic.

JetAirs headquarters

JetAir obtained the necessary operating license in November 2019, just before the onset of the pandemic. This timing led to a difficult start and had significant consequences for the aviation sector at large, and JetAir in particular. In the ensuing years, JetAir’s operations were unprofitable, and the company could not sustain the necessary investments for maintaining its two F70 aircraft.

Eventually, one of the aircraft had to be phased out and dismantled to provide parts for the other plane. However, this second aircraft now urgently requires a new engine, an investment that JetAir cannot afford. With losses exceeding NAf 2,000,000 in the first four months of 2024, JetAir was compelled to file for its own bankruptcy.

In consultation with the management, the trustees have decided to cease all operations completely. The aircraft will remain grounded, and all future flights have been canceled. The trustees are now focused on informing passengers, employees, and other stakeholders, inventorying assets, and exploring possibilities for a potential relaunch of JetAir.

The trustees emphasized the importance of handling this transition smoothly and are working diligently to ensure all affected parties are kept informed throughout the process.

Bron: Curacao Chronicle

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