Jet Time Files For Bankruptcy

Jet Time, a Danish charter airline, on Tuesday filed for bankruptcy after grounding all of its flights since March.

The airline has operated flights on behalf of tour operators such as TUI and airlines including SAS, Norwegian, and Transavia.

You can access Jet Time here.

Here’s an excerpt from the DR:

Every summer, Danish Jet Time transports over 400,000 Danes and northern Europeans to the southern sun.

However, the owner of Jet Times, Lars Thuesen, believes that there is a future market for a Danish charter airline. And therefore he has already registered a new company under the name Jettime a / s, which already in 2021 and no later than 2022 will again greet customers on board and send them down in the heat.

With the expiry of the general assistance packages in July and August and without any specific assistance to airlines, apart from SAS, there were no prerequisites for continuing the old Jet Time A / S, unfortunately.

Here’s the press release from the airline:

Download (PDF, 645KB)

Conclusion

Jet Time had just eleven planes and operations and bases around the Nordic Countries. The founder plans to return with a Jettime (how convenient name) in 2021 or 2022 once the demand for charter operations has returned.

It is an especially tough time for smaller operations that don’t have deep-pocketed backers. It is challenging for any business with high fixed costs to operate without revenue.

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