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vhf
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Joined: Fri Jun 17, 2016 3:01 pm

HiFly To Acquire Bankrupt Germania?

Sat Mar 09, 2019 12:01 am

Today, ITB Berlin, one of the world’s largest travel and trade shows, commenced. And as always there will be a lot of announcements of airlines about new services and cooperations as well as rumors spreading around. One of the more likely rumors that can become true is the announcement of investors from HiFly, a Portuguese ACMI/wet-lease specialist.

As the German airline Germania ceased operations in early February, insolvency administrator Rüdiger Wienberg has two concrete bids from a total of three interested parties. There is an offer from Portuguese investors around the airline HiFly.

HiFly is based in Lisbon and currently operates a fleet of 15 aircraft, when combined with its subsidiary HiFly Malta. Only 14 of these aircraft are available for lease, as one A321 is permanently leased to the government of Belgium. The fleet of Germania would perfectly fit for the business of HiFly as they could also offer single-aisle aircraft to their customers. It is estimated that the Portuguese have a chance of about 70% of receiving approval to acquire Germania. Since the fleet is basically ready for operations and Germania can hold their airport slots until April 1st, 2019, the airline would be quite an attractive addition.

According to their homepage, HiFly is a leading widebody aircraft wet lease specialist operating worldwide. It is a go-to organization for airlines when they need additional capacity to cover their short/medium term or seasonal needs. Also, an increasing number of governments are adhering to wet lease as a reliable, safe and efficient source of transportation for officials and defense personnel. Aircraft wet lease stands for the provision on an aircraft on ACMI basis to the clients, e.g. including the crew, all the required maintenance, and the aircraft and third party liability insurance.


in https://aeronauticsonline.com/hifly-to- ... -germania/

Your thoughts...
 
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PatrickZ80
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Re: HiFly To Acquire Bankrupt Germania?

Sat Mar 09, 2019 12:17 am

No doubt they're one of the many candidates that want to take over part of the airline, in this case the aircraft. However it was stated there are two serious candidates that are willing to take over the whole airline including it's operations. Obviously HiFly isn't one of them. If negotiations with the two candidates fail and Germania is broken up they might lay their hands on one or more aircraft, but so far they're not exactly first in the row.
 
Wingtips56
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Re: HiFly To Acquire Bankrupt Germania?

Sat Mar 09, 2019 12:18 am

I would think much of the value would be in the airport slots, but only if HiFly wanted to go into the scheduled business under their own brand (or a new division which could have it's own name). Otherwise, what assets and debts did Germania leave behind? (I'm asking because I don't know. Fleet leased or owned?)

I could see HiFly taking advantage of accepting the Germania fleet in order to expand their options to fly on behalf of other airlines; e.g., ad hoc subbing for a BA A320/A321 trip with a HiFly 321 makes more sense than having to use a wide body for lack of a right-sized ship. And they could sell the schedule airport slots if those can be monetized and sold, if they want to remain a contract or ACMI carrier.
Worked for WestAir, Apollo Airways, Desert Pacific, Western, AirCal and American Airlines (Retired). Flight Memory: 181 airports, 92 airlines, 78 a/c types, 403 routes, 58 countries (by air), 6 continents. 1,119,414 passenger miles.

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bspc
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Re: HiFly To Acquire Bankrupt Germania?

Mon May 06, 2019 11:32 am

HiFly Malta has taken some ex-Germania A319's to be used for the Airbus Charters - https://aibfamily.flights/Airbus-Charter
 
airbazar
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Re: HiFly To Acquire Bankrupt Germania?

Mon May 06, 2019 1:16 pm

Wingtips56 wrote:
I would think much of the value would be in the airport slots,

At what airport do they hold such valuable slots?
Also, the article states they can hold the slots until April 1st. Today is May 6th. Is that a printing mistake?
 
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cougar15
Posts: 1439
Joined: Thu Sep 05, 2013 6:10 pm

Re: HiFly To Acquire Bankrupt Germania?

Mon May 06, 2019 1:25 pm

airbazar wrote:
Wingtips56 wrote:
I would think much of the value would be in the airport slots,

At what airport do they hold such valuable slots?
Also, the article states they can hold the slots until April 1st. Today is May 6th. Is that a printing mistake?


.. at none, but it is a presently very cheap AOC with loads of benefits in a booming country that desperately needs competition !
some you lose, others you can´t win!

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