Type
Bankruptcy
Country
Greece
Region
Location of affected unit(s)
Sector
Transportation / Storage
Land, Water And Air Transportation
Air Transport
51.1 - Passenger air transport

200 jobs
Number of planned job losses
Job loss
Announcement Date
22 September 2021
Employment effect (start)
22 September 2021
Foreseen end date
22 September 2021

Description

Orange2Fly, a charter flight airline set up in September 2015 with a share capital of € 200,000, has applied for bankruptcy in September 2021. The company was in a development stage for its fleet and its flying activity but the Covid-19 pandemic resulted in negative financial results. The airline employed 200 people, and in 2019 it had carried 250,000 passengers. Early in 2021 the carrier had applied for an €8 million loan from one of Greece's commercial banks but this was rejected. 


Sources

Citation

Eurofound (2021), Orange2Fly , Bankruptcy in Greece, factsheet number 105283, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/105283.