News
 
28.01.2010, 10:50 Uhr
Blue Wings

Uncertain future as owners argue

Grounded German charter airline Blue Wings faces an uncertain future due to a bitter dispute between its two owners.

The airline, which already temporarily lost its licence in spring 2009, had its operating licence again suspended on January 13. The German civil aviation authority said the carrier cannot prove it has sufficient financial resources for its operations. The 250 staff did not receive any wages for December and only 50% of their pay in November. Since then, its seven jets have remained on the ground.

Alexander Lebedev
Alexander Lebedev Alexander Lebedev
 
 
In response, Russian investor Alexander Lebedev announced he wants to sell his 48% stake in the troubled charter airline to joint shareholder and company manager Jörn Hellwig. But at the same time he claimed Hellwig “cannot even finance the operational business” and queried whether the German manager would be able to pay a fair price. The Russian, who is estimated to have invested about €150 million in Blue Wings over the last few years, claimed the German shareholder “is leading the airline towards bankruptcy”.

In turn, Hellwig said Lebedev had not made promised payments to keep the airline in the air. He aims to secure a re-launch for the carrier as soon as possible but this will prove more difficult the longer the carrier remains on the ground.



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