OLT Express Germany cancels flight operations

OLT Express Germany cancels flight operations from today (Sunday, January 27th, 2013) 12:00 p.m. with immediate effect. The reason being, that share holder Panta Holdings B.V. does not support the rehabilitation concept devised by management and employees in intensive negotiations during the past days. It includes extensive part-time arrangements and clear cuts in the salary of all employee groups. Also, several essential creditors had signaled their support, making implementation depending only on the share holder’s participation.

Without this concept for rehabilitation it is clearly predictable, that the company is no longer able to act commercially successful.

To protect the creditors, management has decided to stop all expenses as far as possible. First consequence is the immediate cancellation of all flight operations.

The company will inform about further measures promptly following possibility. OLT Express Germany is available for clients via Call Centre +49 (0)1805 – 658659. For press information our press office can be contacted at 0160 – 6320053.