Aruba Airlines Management Suspended, Allegations of Fraud

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Aruba Airlines Management Suspended, Allegations of Fraud

Unread post by bimjim » Mon Feb 15, 2016

http://airwaysnews.com/blog/2016/02/15/ ... es-crisis/

Aruba Airlines in Crisis, Management Suspended After Allegations of Fraud
Roberto Leiro
February 15, 2016

Last Thursday, a court in the Caribbean island of Aruba has ruled to temporarily suspend the directors of local carrier Aruba Airlines after allegations of fraud.

According to local media, Esteban Valles and Onno de Swart, both directors and main shareholders of Aruba Airlines, were suspended from their respective positions as CEO and Managing Director. Instead, the judge appointed Huber Zievinger as the interim Managing Director of the company. Valles and de Swart have filed a court application last February 10, intended to clarify the financial situation of Aruba Airlines, triggering a crisis that could compromise the long-term stability of the airline.

A press release issued by the airline stated that despite the management change, operations will continue, and that the decision made by the Court will bring tranquility to the employees and passengers of the troubled Caribbean airline. Last Friday, insurance policies for the aircraft were renewed, thus assuring, to date, the continuity of flights. However, ticket sale seems to be halted via website “due to issues with (our) payment gateway.”

ArubaAirlinesPaymentFounded in 2012, Aruba Airlines has a fleet of three ILFC and AerCap-leased Airbus A320-200s, and besides offering regular services from Aruba to Curaçao, Dominican Republic, Panama, Venezuela and Miami in the United States, it has been operating charter flights between Miami and Cuba as well.

Since the demise of ALM Antillean Airlines in 2001, air transport industry from Aruba and Curazao have experienced turbulent times. Over a half a dozen airlines have attempted to fill the gap left by ALM without success. Currently, InselAir and Tiara Air besides Aruba Airlines are operating in a market sensitive to seasons and to the economic situation of Venezuela, which provides the largest number of travelers to these islands.

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