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Another Danish airline in the red
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January 19th, 2015
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This article is more than 8 years old.
Jet Time facing hard times
The Danish airline Jet Time ended last year with a loss of nearly 70 million kroner.
The company is set to implement what it called a “rescue plan” in an internal email sent to employees and obtained by DR Nyheder.
Jet Time is an important subcontractor of SAS and operates key domestic routes between Copenhagen and both Aarhus and Billund.
Long-term problems
Many travel companies also use the company as part of their package deals.
The email called last year’s results "very unsatisfactory" and revealed that "an emergency rescue plan”, which would ask for support from banks and shareholders, would be implemented immediately.
Company head Klaus Ren confirmed the contents of the email, but downplayed their seriousness.
“The message was intended for internal use,” he told DR Nyheder. “Our existence is not threatened over the short-term – it is where we will be in five to ten years that we are working on.”
READ MORE: SAS closes down Jutland routes
Ren said that staff were told that the company would be addressing the shortfall “here and now”, but assured passengers they had nothing to worry about.
“Not at all,” he said. “Right now we can easily live a year or two more on the money we have.”
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