German Carrier OLT Ceases Operations

German express carrier OLT has reportedly ceased operations after reorganisation talks with its parent company, Panta Holdings, failed. OLT had already announced a number of cuts to its route and fleet in December last year. It is thought the airline and its parent company could not agree on a plan to restore the carrier to financial health. Founded in 1958, OLT operated 15 aircraft on routes within Germany, Austria, Switzerland, Denmark and France, according to the German news source, Die Welt.

TAGS: Europe
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