EMCC European Monitoring Centre on Change

Orange2Fly

Company/Organisation:
Orange2Fly

Geographic Location

Country: Greece

Company

Sector: Transportation / storage
Transportation and storage
51.1 - Passenger air transport
Number Employed: 200

Employment Effects

Announcement Date: 22-09-2021
Planned Job Reductions min: 200
Planned Job Reductions max: 200
Type of Restructuring: Bankruptcy
Employment Effect Start: 22-09-2021
Foreseen End Date: 22-09-2021
Other Job Reduction Measures: 200

Additional Information

Orange2Fly, a charter flight airline set up in September 2015 with a share capital of € 200,000, has applied for bankruptcy in September 2021. The company was in a development stage for its fleet and its flying activity but the Covid-19 pandemic resulted in negative financial results. The airline employed 200 people, and in 2019 it had carried 250,000 passengers. Early in 2021 the carrier had applied for an €8 million loan from one of Greece's commercial banks but this was rejected. 

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