SF Aviation Holding, the parent of VLM Airlines (Brussels) (HQ, Brussels National), has finalised the takeover of insolvent Small Planet Airlines Germany (5P, Berlin Schönefeld), fvw has reported.

The German leisure specialist's management confirmed that an agreement had been signed.

While the exact plans for the revival of Small Planet Airlines Germany are as of yet unknown, the new owners will likely reduce the fleet to just one or two A320 Family jets for the Winter 2018/19. Small Planet Airlines Germany operated as many as nine aircraft during the peak of the Summer 2018 season. At the end of its operations, the airline dry-leased six Airbus jets and wet-leased a further two units.

Due to the planned fleet reduction, despite the takeover, the airline will lay off most pilots and cabin crew. It will help to place some of them with Travel Service Airlines.

Besides SF Aviation Holding, Onur Air (8Q, Istanbul New) was reportedly also interested in taking over Small Planet Airlines Germany.

Small Planet Airlines Germany declared insolvency in mid-September 2018 and continued to operate through November 1. It needs to resume flights within the next six months to reactivate its Air Operator's Certificate (AOC). Otherwise, the AOC will be permanently withdrawn.

The carrier's Polish sister company, Small Planet Airlines Polska (P7, Warsaw Chopin), filed for restructuring in early October and operated its last flight on November 9. Small Planet Airlines (S5, Vilnius) also filed for restructuring in October.