Aruba Airlines reaches settlement with founder and CEO

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Aruba Airlines reaches settlement with founder and CEO

Unread post by bimjim » Wed Jun 21, 2017

https://www.ch-aviation.com/portal/news ... er-and-ceo

Aruba Airlines reaches settlement with founder and CEO
20 June, 2017

Aruba Airlines (AG, Aruba) has announced that its founder and CEO, Onno de Swart, has agreed to leave the company. As previously reported, de Swart has been engaged in a dispute with fellow shareholder Esteban Valles, and the two were suspended from management duties in February 2016. A court of justice then appointed Valles as interim director and de Swart was shut out.

Several court cases were held during 2016 in which de Swart attempted to recoup monies he had paid into the company as well as shares. In order to avoid further scandalising the airline, Aruba Airlines management and de Swart agreed to negotiate a settlement, reports St Maarten news site Today.

As a result of the settlement, de Swart no longer has any stake in the company and has no say in its management.

Founded in 2012, Aruba Airlines now has one A319-100 and two A320-200 aircraft. It connects Aruba to Maracaibo and Valencia Arturo Michelena Int'l in Venezuela, and Miami Int'l in the US.

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