Switzerland's Belair to end operations in late 1Q17

Swiss tour operator halts Germania Flug sales

Switzerland's Belair files for insolvency

Belair Airlines (Zurich) has declared insolvency as of Wednesday, August 15, after talks with a prospective investor collapsed.

Under the new ownership of German investment firm SBC, the former airberlin group unit had, earlier this year, planned to secure a new Air Operator's Certificate (AOC) from the Swiss Federal Office of Civil Aviation (FOCA) in time to commence ACMI and charter flights during the current summer season.

To do so, the board had sought to raise the necessary capital via a charter contract booked in April coupled with funds supplied from "one or more investors".

According to a statement issued on Wednesday, August 15, Belair's board of administrators had managed to whittle down its list of prospective investors to one who, convinced of the resurgent carrier's business plan, had planned to make a "significant contribution" to the business. However, said investor has since pulled out of the talks leaving Belair without the means needed to secure its AOC.

"In view of these developments – following the intensive restart preparation measures taken...

FTI Touristik to add El Gouna flights, inks Belair contract

Etihad to retain stake at Air Serbia

Air Serbia (JU, Belgrade) has said that Etihad Airways will retain its 49% stake in the Serbian carrier and the two airlines will continue to work together, thus cutting short rumours about an impeding divestment, N1 has reported.

"Etihad continues to own 49 per cent of Air Serbia and remains a fully committed and supportive shareholder in partnership with Air Serbia’s majority shareholder, the Government of Serbia," the Serbian flag carrier has said.

According to the statement, the top management appointed by Etihad Airways, namely Interim Chief Executive Officer Duncan Naysmith and Chief Operations Officer Declan Keller, will remain in their positions through the end of 2018. Earlier reports had suggested that their contracts might be terminated in the near future as a part of Etihad's withdrawal strategy.

Etihad Airways became a shareholder in Jat Airways in 2013. Afterwards, the carrier has been rebranded as Air Serbia. Despite nearly continuous restructuring and frequent changes to its business model, the airline has remained only marginally profitable since then. According to the official Serbian...