OLT Express Germany (Bremen) following the lead of OLT Express Poland, ceased all operations yesterday (January 27) due to financial difficulties and a reported disagreement with its owner, Panta Holdings. Panta Holdings was not interested in injecting more capital into the struggling carrier.
The regional carrier operated SAAB 2000 turboprops (above) and Fokker 100s (below).
Read the full report (in German) from Aero Telegraph: CLICK HERE
Top Copyright Photo: Andi Hiltl. SAAB 2000 D-AOLB (msn 005) arrives at Zurich.
Bottom Copyright Photo: OLT Express. Fokker F.28 Mk. 0100 (Fokker 100) D-AOLG (msn 11452) poses for the camera.
OLT Express (Germany) (Bremen) is transforming itself from a regional feeder airline into a new point-to-point low-cost carrier according to Airline Route.
Starting on October 15, 2012, the redesigned airline will open new bases at Dresden, Muenster and Saarbruecken. In addition, the airline will open 14 new routes including new service to Budapest, Southend (near London), Milan (Malpensa), Paris (CDG) and Vienna.
OLT Express (Germany) (Bremen) has been sold by Amber Gold to Dutch financial investor Panta Holdings BV.
Under the leadership of Panta Holdings, OLT Express (Germany) will continue its expansion plans by integrating Contact Air (Stuttgart) in early September.
Panta Holdings has been active in the aviation industry with Dutch company Denim Airways and leasing company Mass lease. In addition, Panta is involved in the Canadian supplier Avcorp Industries. Panta Holdings also owned VLM Airlines in the past before it was sold to the Air France-KLM Group.
After Amber Gold announced it was getting out of the aviation industry after the recent failure of OLT Express (Poland) there was a period of uncertainty for the employees of the OLT Express (Germany) and Contact Air. Now they have a more secure future.
Copyright Photo: Andi Hiltl. The Fokker 100 will now be the main aircraft for the new OLT Express. Fokker F.28 Mk. 0100 D-AOLG approaches for landing in the bright 2011 livery at Zurich. Unfortunately this color scheme is now also associated with the failure of OLT Express (Poland) which made headlines when it stranded passengers. A new branding effort by the new owners could become a new reality.
OLT Express Germany (Bremen) took over the operations of Contact Air Service GmbH & Co. KG (Stuttgart) on July 4. Both companies will continue to operate under the OLT Express brand. Anti-trust clearance of the acquisition is expected to be completed in early September 2012.
With the acquisition, OLT Express Germany now employs about 500 additional employees. Of these, there are approximately 200 employees in Bremen, about 200 in Stuttgart and about 100 in Saarbruecken.
OLT Express (Germany) (formerly OLT Ostfriesische Lufttransport GmbH or OLT) (Bremen) has expressed to the liquidator of defunct Cirrus Airlines (Saarbrucken) that it is interested in acquiring some of the assets and hiring some of the former employees according to a report by NWZ Online.
OLT Express moved to Bremen from Emden in February 2012 after it was acquired by new interests. It is also ready to establish a new base at Saarbrucken.