In a recent turn of events, JetAir, the combined entity of United Caribbean Airlines B.V. and JetAir Caribbean B.V., filed for bankruptcy on 18 June 2024.
The Court of First Instance of Curaçao has now officially declared the airline bankrupt, following their own petition.
This unexpected development comes with immediate consequences for passengers. All scheduled JetAir flights are now cancelled, and the airline’s fleet of aircraft is grounded.
The court has appointed Mr. C.M. van Liere and Mr. R.J. Vriezen as trustees to oversee the bankruptcy proceedings.
JetAir Grounding 18 June 2024
The airline has now put out a confirming statement saying: “The Court of First Instance of Curaçao declared the bankruptcy of United Caribbean Airlines B.V. and JetAir Caribbean B.V., operating jointly under the name “JetAir”, at their own request.”
“In consultation with the board, the trustees have decided to cease all current flight operation. This means that all flights are canceled, and JetAir’s aircraft will remain grounded as of June 18th.”
The cause behind JetAir’s financial struggles remains undisclosed. The airline has expressed the possibility of resuming operations in the future, but no concrete timeline has been established.
In this initial phase of the bankruptcy, the trustees will now conduct an investigation into the company’s assets.
They will explore the possibilities for a potential restart of Jetair and focus on informing employees, passengers, and other creditors and stakeholders.
The trustees are under the supervision of a supervisory judge from the Court of First Instance of Curaçao.
Impact on Passengers
Passengers with cancelled flights are understandably disappointed. Unfortunately, rebooking options are unavailable at this time, neither with JetAir nor with other airlines.
Passenger rights as a consumer/creditor in this situation are established in the Curaçao Bankruptcy Law.
As a result of JetAir’s bankruptcy, all debts are ‘frozen’. This effectively means that no refunds can be made at this time, according to the carrier’s statement.
JetAir advises affected passengers to file a claim with the appointed trustees. More information on the claims process can be found on the JetAir website’s dedicated bankruptcy information page.
There is no general timeframe for the duration of a bankruptcy. This depends partly on the outcomes of investigations into the causes and legality.
If, for example, legal proceedings need to be conducted, the settlement of a bankruptcy is a lengthy procedure.
The trustees will report on the progress of the settlement in their quarterly public reports.
This situation is undoubtedly frustrating for travelers who had upcoming flights with JetAir.
We recommend staying informed by checking the airline’s website and dedicated page for further updates.
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