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Austrian regional InterSky ceases operations
Kurt Hofmann, Nov 06, 2015
Austrian regional InterSky ceased operations Thursday evening after talks with a potential German investor failed.
“Our long, ongoing negotiations with possible investors have all failed. We have done everything possible to find an investor—our last option collapsed. We have to declare insolvency on Monday,” InterSky founder Renate Moser confirmed to ATW.
The reservation system has been shut down and flight operations have ceased. The grounding affects150 jobs.
Two Bombardier Dash 8-Q300s and two ATR 72-600 have been returned to lessor Castlelake, which immediately canceled all contracts with InterSky.
The Austrian Ministry of Transport said in October it would cancel InterSky’s air operator’s certificate (AOC) if it did not declare it had enough money to operate by Nov. 3.
In September, German investor Intro Aviation had said it wanted to sell Intersky in September or early October.
Intro Aviation, which bought into Intersky in 2012, also owns Irish regional CityJet.
Intersky was established in 2001 by Moser. The company, which was 74.9%-owned by Intro Aviation GmbH, was divested to the current shareholders in November 2014.
Intersky operated from Germany’s Friedrichshafen Airport on regional routes within Europe.
Austrian regional InterSky ceases operations | Finance & Data content from ATWOnline