PrivatAir (Switzerland) (PV, Geneva) has announced that both it and its sister carrier PrivatAir (Germany) (PTG, Düsseldorf Int'l) have now started insolvency proceedings in each of Switzerland and Germany.

In a statement issued on Wednesday, December 5, the Swiss carrier said only that it had experienced a "number of events" over the past few weeks that have had a significant impact on the companies’ future business forecast and viability.

PrivatAir was created in 1977 in Switzerland as Petrolair (Geneva) and had employed a total staff complement of 226 spread across Switzerland, Germany and Portugal.

PrivatAir (Germany) last operated three A319-100s for Saudia Private Aviation (SVA, Jeddah) all of which were in the process of being transferred to the Swiss AOC at the time of filing for insolvency. It also had two B737-700(BBJs) that were in storage at the time the German AOC was lost.