Court declares bankruptcy of JetAir Caribbean
The Court of First Instance in Curaçao has declared bankruptcy for local carriers United Caribbean Airlines BV and JetAir Caribbean BV.
JetAir was the sole airline based in Aruba, Curaçao, and Bonaire with jet aircraft, offering scheduled and charter flights connecting Curaçao with Aruba, Bonaire, Jamaica, the Dominican Republic, Haiti, Sint Maarten, Suriname, and Colombia. The airline obtained its operating permit in November 2019, just before the onset of the COVID-19 Pandemic, which, reportedly, severely impacted its initial operations.
Following the pandemic, JetAir aggressively resumed services, focusing on routes from Curaçao to Colombia, Jamaica, the Dominican Republic, Haiti, and Sint Maarten. However, the expansion of local airlines Winair and Z Air, along with the emergence of low-cost Arajet and the growth of Sky High, constrained JetAir’s operational capacity. Additionally, the high operating costs of its Fokker 70 aircraft necessitated grounding one for spare parts.
JetAir reported losses exceeding US$1 million, leading the board of directors to compel the airline to cease operations and ground its sole Fokker 70 (PJ-JAB).
Founded in 2006 as United Caribbean Airlines, JetAir rebranded in 2019 as JetAir Caribbean. The airline must now inform passengers, employees, and other stakeholders, secure assets, and explore possibilities for a short-term resumption of flights.
JetAir’s bankruptcy mirrors the financial struggles of other Caribbean airlines such as Air Antilles and LIAT, both of which have since re-emerged with new investors.
