PrivatAir’s insolvency marks another ‘good times’ private aviation blackeye and reminds buyers they need to research the stability of providers
Yes, it’s another ‘good times’ private aviation hiccup in what has been described as the peak of the segment’s 10-year recovery. “Any Jet, Anywhere, Any time” reads the on-demand private jet charter page of the Swiss and German private jet management company PrivatAir which said it has filed for insolvency today.
After being sued by deposed operator Encompass Aviation for at least $3 million and being hit with an IRS tax lien for nearly $2.4 million, Surf Air is now alleging that its former provider not only ran a poor operation but that it was attempting to have Surf Air management ousted
Surf Air has filed a countersuit against deposed operator Encompass Aviation alleging it was to “unable consistently service its scheduled routes” and also that it tried to interfere with a key investor and the lessor of its aircraft with the aim to have management ousted.
Encompass Aviation says Surf Air owes it $3.1 million on top of the IRS’s claims of nearly $2.5 million
As we reported here first in the wee hours of Saturday morning – just after midnight – we received a press release from Surf Air announcing it had terminated its agreement with Encompass Aviation LLC. The news took Encompass by surprise, and we reported that the Part 135 charter operator that had been flying Surf Air customers in California claimed it was owed significant money and planned to pursue legal remedies. Yesterday