It wouldn’t be a week in the aviation world if an airline didn’t go bankrupt.
So far this year we have said goodbye to:
- Primera Air – Gone!
- Cobalt – Gone!
- Almost Air Belgium – looking into Chinese routes
- Almost WOW Air – May have a new home with Wizz and Frontier
- Almost Flybe – Looking for a buyer
And now its time to add Privat Air to that list.
Who is Privat Air?
Founded in 1977, Privat Air is a wet-leasing airline. A wet-leasing airline is like a leasing service, but not just renting out the planes. They will do the entire soft product as well, supplying their own crew, fuel and airline certificate. They have three Airbus A319s and two Boeing 737 in their fleet of five planes.
They also had five A220-100s on order, but it is unknown what will happen to them.
The interesting thing is, is that their planes are designed for premium travel. They are fully set out as business class cabins (with features such as a lie-flat beds).
This is because Privat saw a market opportunity to work for businesses, not airlines. By being the go-to carrier for groups of large business owners, Privat would be able to charge a premium whilst running smaller jets. They got contracts with many different airlines who used their services to create specific corporate routes. For example, from the headquarters of the company to their factory in another country.
Unfortunately, it seems that Privat Air has hit some tough times and had decided to call it a day, releasing this statement.
“It is with great sadness that PrivatAir SA, Switzerland, announces today that it has filed to commence insolvency proceeding in Switzerland. Likewise, its subsidiary PrivatAir GmbH in Germany has also filed for insolvency today. Over the past few weeks, a number of events have had a significant impact on the companies’ future business forecast and viability, which forced the companies to file for insolvency.” – Privat Air Statement
Perhaps during the tough winter, they just could not find enough contracts to survive.
And they had one contract that you may have heard of…
Is this the same Privat Air that flies the infamous worst flight in the world?
Yes, Privat Air was the contractor for Lufthansa to fly their planes from Frankfurt, Germany to Pune, India. Several German auto-manufacturers have auto plants there and the link is very useful for site visits. However, with them out of the picture Lufthansa will be forced to find a new firm… or reuse their original plan which is totally insane.
You can read about Lufthansa’s back up plan here.
Only time will tell if Privat Air will be remembered.
Are you sad to seel Privat Air go? Let us know in the comments.