DALLAS — Today in Aviation, Danish charter carrier Jet Time (JO) commenced operations in 2006.
A group of Danish investors had established the airline, with its main base at Copenhagen Airport (CPH). JO went on to build a robust charter business using a fleet of Boeing 737-300/400 and 500 aircraft.
In 2013 it took delivery of the first of six new ATR 72-600s, its first turboprops. These would be used as part of a commercial agreement with SAS Scandinavian Airlines (SK) to operate regional routes across Northern Europe.
The airline also briefly diversified into the air cargo business, utilizing a fleet of five 737-400Fs. But in 2017, after a period of financial instability, JO ended its cargo operation and exited its agreement with SK.
Speaking at the time, CEO Jørgen Holme said, “We return to Jet Time’s original business, charter, which was the business that paved the way for the airline’s initial success.”
Bankruptcy and Relaunch
In July 2020, JO filed for bankruptcy protection after its fleet had remained grounded since March 23. Holme revealed that covid travel restrictions had been “too great a challenge” to overcome.
“Our professional organizations have worked tirelessly to find solutions with us to avoid bankruptcy and secure jobs,” he said. “But with the prospect of at least a six-month peak season with no revenue at all, I must unfortunately admit that it has become an impossible task.”
At the time, JO was operating a fleet of eight Boeing 737s, including a single -700 and seven -800s. It also had a pair of 737-900ERs on order.
However, the airline owner Lars Thuesen quickly relaunched a new ‘Jet Time’ with a fleet of five 737s. The carrier now offers charter flights from the Nordic region to various Mediterranean and Canary Islands destinations. It also plans to establish itself as an ACMI provider.