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Press release: Settlement between Aruba Airlines, De Swart

Posted: Fri Jun 16, 2017
by bimjim
http://curacaochronicle.com/aviation/pr ... -de-swart/

Press release: Settlement between Aruba Airlines and De Swart
Fri, Jun 16th, 2017

ORANJESTAD

Aruba Airlines was established in 2006 by Mr. Onno de Swart. As part of Aruba Airlines growth strategy, an acquisition deal was signed in April 2012 between Mr. de Swart and Seastar Holding N.V. The intention of this acquisition deal was to further capitalize the Company, by means of expanding its operation to be able to incorporate an Airbus A320 on the operations specifications.

This project was successfully realized, Aruba Airlines has three Airbus A320’s operating.

In 2016 some disputes have arisen between the parties which resulted in several court cases. In order to safeguard the existence of the company, parties have decided to conclude an amicable settlement and part their ways. Mr. Onno de Swart is no longer a beneficial owner and does not participate in any way whatsoever in the Company Aruba Airlines. Mr. Onno de Swart wishes the Company lots of luck for the future.