Jet Time (2006) (Copenhagen Kastrup) is scouting for potential new investors to help recapitalize the airline chairman and majority shareholder Lars Thuesen has told Denmark's Dagbladet Børsen.
The Danish carrier has reportedly struggled to raise the DKK57 million (USD8.24 million) in fresh capital needed to ensure adequate liquidity reserves ahead of the finalization of its 2014/15 accounts. During its 2013/14 Financial Year, the airline incurred overall losses of DKK54.2 million (USD7.84 million) following a collapse in demand for Egyptian charter flights as well as unforeseen operational problems in its SAS Scandinavian Airlines (SK, Copenhagen Kastrup) ATR72 ACMI contract.
Jet Time currently offers ACMI/charter passenger and cargo operations using a fleet of thirteen ATR72-500/600s (all in service with SAS), five B737-300s, one B737-300(F), one B737-300(QC), four B737-400(F)s (in service for TNT Airways (Liège)), and three B737-700s.
