Danish Jet Time files for bankruptcy, owner plans new airline

Photo: © Mark Harkin

Danish charter company Jet Time has filed bankruptcy. Its owner says there are already plans to re-emerge as a new airline.

The airline’s Boeing 737s have been grounded since March 23 due to the ongoing Coronavirus crisis and 95% of its employees have been dismissed. The 80 million DKK rescue funding Jet Time received from the Danish government was insufficient to save it from bankruptcy. Around 400 employees are affected by the airline’s decline.

Nevertheless, Lars Thuesen, owner of Jet Time, already has established a new airline under an almost identical name, called Jettime.

I am convinced that post-coronavirus there is room for a strong, independent, and profitable Danish charter airline that can serve Nordic charter customers.Lars Thuesen, owner of Jet Time

The new carrier has formally been founded in June and received its Air Operator Certificate (AOC). Jørgen Holme, the CEO, and 26 former Jet Time employees will build up the new airline. Jettime will take over five of Jet Time’s Boeing 737, as well as the technical platform and take-off and landing permits. The airline is set to launch once there is a higher demand and travel restrictions imposed due to the Coronavirus pandemic are lifted.