SUNDAIR: Restructuring successfully completed
The German airline SUNDAIR GmbH has successfully completed its restructuring: Today, the responsible district court in Stralsund officially lifted the self-administration proceedings. SUNDAIR can take off as a restructured company just six months after the proceedings began.
„The successful completion of the restructuring process is not only good news for our company, but above all for our customers and partners“, emphasized SUNDAIR CEO Marcos Rossello. „It allows us to continue our successful course as a solidly positioned company.“
During the protective shield proceedings, the management was supported by restructuring experts Thomas Mulansky of Mulansky + Kollegen, as well as Dr. Robert Tobias of the restructuring consultancy Restrukturierungspartner. Prof. Dr. Lucas F. Flöther of Flöther und Wissing accompanied the proceedings as court-appointed trustee.
Managing Director Rossello thanks all those involved for their support during the process. „The fact that the restructuring succeeded as planned in just six months - and in the middle of the Corona pandemic - is largely thanks to our customers, suppliers and partners, who fully supported our restructuring course. Our employees also played a major role. In difficult times, they have shown great commitment in ensuring that our flight operations could continue at all times.“
SUNDAIR had started a so-called protective shield procedure at the end of October last year to overcome the consequences of the Corona crisis while continuing flight operations. The management used the procedure to prepare all the necessary steps for the financial and operational reorganization of the company. Among other things, the SUNDAIR fleet was restructured and agreements with the lessors were adjusted. The summer flight schedule is already in place, and the first important connections have started operations.
SUNDAIR is a young and independent airline founded in 2016 with headquarters in Stralsund and bases at Kassel Airport, Berlin, Dresden and Bremen. SUNDAIR serves the most beautiful destinations in the Mediterranean, the Red Sea and the Canary Islands. The airline flies mainly for tour operators, especially schauinsland-reisen, but also for other well-known German operators. It also operates a scheduled service to Beirut. Part of its revenue is generated from special and charter flights. These include group organizer full charter flights and wet lease-outs, as well as ad hoc charter flights, e.g. for soccer clubs or orchestras. The company currently employs around 240 people. About 160 employees belong to the „flying staff“ (pilots, cabin crew). Approximately 80 employees work on the ground in engineering, administration, or accounting.
Further information canbe found online at: www.sundair.com