OLT Express

Last updated
OLT Express
OLT Express Germany logo.svg
IATA ICAO Callsign
—YAP/JEAWHITEKEKO/JETAIR
Founded2009 (as Yes Airways)
Ceased operations31 July 2012
AOC # PL-004/11 [1]
Hubs
Fleet size13
Parent company Amber Gold (company)
Headquarters Gdańsk/Warsaw, Poland
Key peopleJarosław Frankowski (CEO)
Website www.oltexpress.com

OLT Express Poland (ICOA: YAP) was a Polish charter airline, formally known as Yes Airways. On 31 July 2012 it suspended all charter services, less than a week after the scheduled sister airline OLT Express Regional cancelled all its services. Stranded customers were returned home on LOT services. [2] All leased aircraft were repossessed by lessors, and even some wet lease pilots were released back to their employer airlines. [3] Its sister airline, OLT Express Regional (ICOA: JEA), filed for bankruptcy on 27 July 2012 after its licence was suspended by the Polish Aviation Authority. [4] [5]

Contents

Yes Airways was founded in 2009 and was based in Warsaw. It began operations in late April 2011. [6] It flew from regional airports in Poland on behalf of tour operators and was the first Polish airline to have Airbus aircraft in its fleet. In early 2012, YES Airlines was rebranded as OLT Express Poland by its new owners, Amber Gold, who also controlled OLT Express Germany and OLT Express Regional. [7] The airline's main hub was located at Warsaw Chopin Airport. [8]

On 31 July 2012 OLT Express Poland followed its sister airline OLT Express Regional in suspending all services. All leased aircraft were returned to their owners. The third sister company, OLT Express Germany, announced they are seeking an external investor to support operations, and fund the earlier announced takeover of Contact Air. [9]

OLT Express Airbus A320 at Warsaw Chopin Airport OLT Express Airbus A320-214 Idaszak.jpg
OLT Express Airbus A320 at Warsaw Chopin Airport
An OLT Express ATR 42 OLT Express ATR 42-300 SP-KTR.JPG
An OLT Express ATR 42
OLT Express bus line from Gdansk Lech Walesa Airport to the city center OLT Express bus in Gdansk.JPG
OLT Express bus line from Gdańsk Lech Wałęsa Airport to the city center

OLT Express Regional - Scheduled services

OLT Express Regional began life in 2001 as Jet Air, an airline operating in the business aviation sector, providing broker rendering services (small aircraft and helicopters) to local operators and companies. Jet Air started scheduled domestic operation for LOT Polish Airlines in winter 2005/06 with three BAe Jetstream 32, flying on routes with less demand (like Zielona Góra, Bydgoszcz, and Rzeszów).

On 11 October 2007, LOT Polish Airlines announced it would cut the amount of routes Jet Air would fly, citing the lesser desirability of Jetstream aircraft as well as limited demand for the destinations served by Jet Air. In the end, this enabled Jet Air to begin its own operation as a stand-alone airline. Jet Air-branded flights began in late 2007 and since then the airline rapidly expanded the number of destinations it flew to. Starting from October 2010, Jet Air operated flights on behalf of Ostfriesische Lufttransport (OLT) from their hub at Bremen Airport to both Nuremberg Airport and Brussels Airport. [10] These flights ceased in May 2011.

Amber Gold ownership

In February 2012, Jet Air, now called OLT Jetair, after being bought by the Amber Gold Group, restarted operations as OLT Express Regional. It began to utilise the larger jet aircraft of its new sister operator OLT Express Poland (previously known as Yes Airways, a Polish charter airline, whom Amber Gold bought 85% of shares) under the common brand OLT Express. Whilst both carriers technically retain their own operating certificates, they, along with OLT Express Germany, use a common marketing strategy, reservations system and sales structure. [11] Despite this, OLT Express' operations are not integrated with those of OLT Express Germany and both airlines operate their own individual route networks. OLT Express Regional's inaugural flight from Warsaw Chopin Airport to Gdańsk Lech Wałęsa Airport took place on 1 April 2012. [12]

The airline's scheduled international and domestic flights were operated under the IATA/ICAO airline codes O2/JEA, using aircraft drawn from the fleets of both OLT Express Regional and OLT Express Poland, whilst charter flights were operated solely by OLT Express Poland, under the ICAO code YAP, using their Airbus A319 and A320 aircraft.

Bankruptcy

On 25 July 2012, OLT announced it was undergoing a dramatic re-organisation. Amber Gold was not in a position to provide the funding needed to continue normal operation.

Under the re-organisation, all its ATR aircraft would be grounded. It says it intends to raise 8,000,000 PLN from their sale; however, other sources state some of the aircraft are leased from Swift Air. The load factor on these flights was 11% according to the airline; however, they claim an overall load factor of 75% in June 2012, including its Airbus aircraft. It will cancel 14 routes served by these aircraft and move some crews across to the new Airbus craft due in September. However, some will have to be laid off as they would need to be fully retrained to operate these new aircraft.

The CEO of OLT admitted the airline was running at a substantial loss, approximately 600,000 euros per month. Ticket prices are due to rise from an average of 155 PLN to 180 PLN, and the number of the cheapest fare tickets on each flight will be reduced. Unlike other low-fares airlines, OLT had provided free drinks and snacks on its flights. They will stop this practice after the re-organisation and only provide free water, still unheard of for low-fares airlines. They intend to start their own catering company and re-introduce free catering and drinks on flights at a later date. [13]

Amber Gold claims to have invested roughly 52 million euro in the airline to date. The airline's credit card service providers, BZ WBK and Volkswagen Bank have decided to terminate their relationship with the airline after they failed to provide guarantees the banks requested in July 2012. [14] [15]

There was also a dispute with the Polish Aviation Authority as they have failed to submit financial reports for 2011. OLT Express claims they have submitted the reports but the PAA claim they have not. The PAA set a deadline of the end of July 2012 for the reports to be submitted, or their licence to fly might be suspended or revoked. [16] [17]

On 26 July, 24 hours after announcing that ATR services would continue until 10 August, OLT announced all services using ATR aircraft would cease immediately. [18] Some domestic services using Airbus aircraft were also cancelled, casting major doubts over the airline's future. The managing director had said OLT would pay for passengers to fly with other airlines, and then reneged on this promise. [19] [20]

On 27 July, all flights were suspended without notice and ticket sales were stopped. The website featured a banner which translates as "Ladies and Gentlemen, please be advised that from 27 July, all regular flights are suspended until further notice. At the same time, the sale of airline tickets will be halted." [21] The airline had been flying for less than four months at that point. The airline head, Jarosław Frankowski, claimed to be in advanced talks with another airline to sell the company entirely. [22] [23] After failing to find a buyer and with credit card companies demanding far bigger deposits, the airline had insufficient cash-flow to continue. On 27 July 2012, they filed for bankruptcy, less than four months after starting operations. [15]

Amber Gold financial questions

The Chairman [24] of Amber Gold, Marcin Plichta, is a former bankrupt and was also convicted of embezzling 174,000 PLN (approx. US$80,000) from ca. 400 customers of his previous business, Multikasa, in 2008. [25] He was given a 10-month sentence, suspended for 2 years. After the conviction, he changed his name from Stefanski to Plichta. He was only 24 years of age at the time. [26] His wife, Katarzyna Plichta is chairperson of the supervisory board. Amber Gold is not approved by the Financial Supervision Authority to operate as a financial institution, and the FSA has gone to court in relation to this. [27] The FSA have also issued a public alert to make that clear to potential customers, many of whom have had to wait months to recover money in the past. [28] Amber Gold has since claimed it is a business that trades in precious metals and simply enters into storage contracts with its customers. [29] The company claims to have about 100 kg of gold in reserve to cover deposits. [30] It transacts its business through brokers. Their claim to offer up to 13.9% guaranteed annual returns [31] [32] has come in for scrutiny. In late July 2012 clients again stated they had difficulty recovering their money from Amber Gold. [33] It had taken the Polish FSA to court for issuing a public alert which Amber Gold says is affecting its reputation. Amber Gold announced their intention to exit the airline industry entirely after both OLT Express Regional and Poland cancelled all operations. [34]

On 13 August 2012, Amber Gold was liquidated. [35]

Destinations

List of all served, planned, and terminated flight destinations of OLT Express (until 31 July 2012 when it ceased all operations) and its airline predecessors: Jet Air (until 31 July 2011), OLT Jetair (until 23 March 2012) and Yes Airways.

Charter flights destinations

Planned destinations (never commenced due to airline's bankruptcy)
Terminated destinations

Destinations served by charter flights designated with the ICAO code YAP in the 2012 summer season.

CityCountryIATA codeICAO codeAirport
Aqaba JordanAQJOJAQ King Hussein International Airport [36]
Antalya TurkeyAYTLTAI Antalya Airport [36]
Batumi GeorgiaBUSUGSB Batumi International Airport [37]
Bodrum TurkeyBJVLTFE Milas–Bodrum Airport [36]
Bydgoszcz PolandBZGEPBY Bydgoszcz Ignacy Jan Paderewski Airport
Chania GreeceCHQLGSA Chania International Airport [37]
Corfu GreeceCFULGKR Corfu International Airport [38]
Dalaman TurkeyDLMLTBS Dalaman Airport [38]
Dubrovnik CroatiaDBVLDDU Dubrovnik Airport
Gdańsk PolandGDNEPGD Gdańsk Lech Wałęsa Airport [36]
Gothenburg SwedenGOTESGG Göteborg Landvetter Airport [36]
Heraklion GreeceHERLGIR Heraklion International Airport [36]
Hurghada EgyptHRGHEGN Hurghada International Airport [36]
İzmir TurkeyADBLTBJ Adnan Menderes Airport [37]
Katowice PolandKTWEPKT Katowice International Airport [36]
Kraków PolandKRKEPKK John Paul II International Airport Kraków-Balice
Lanzarote SpainACEGCRR Lanzarote Airport [36]
Luleå SwedenLLAESPA Luleå Airport [36]
Marsa Alam EgyptRMFHEMA Marsa Alam International Airport [36]
Mombasa KenyaMBAHKMO Moi International Airport [36]
Monastir TunisiaMIRDTMB Habib Bourguiba International Airport
Örebro SwedenORBESOE Örebro Airport [39]
Palma de Mallorca SpainPMILEPA Palma de Mallorca Airport [36]
Poznań PolandPOZEPPO Poznań-Ławica Airport [36]
Rhodes GreeceRHOLGRP Rhodes International Airport [36]
Sharm el-Sheikh EgyptSSHHESH Sharm el-Sheikh International Airport [36]
Stockholm SwedenARNESSA Stockholm-Arlanda Airport [39]
Sundsvall SwedenSDLESNN Sundsvall-Härnösand Airport [36]
Taba EgyptTCPHETB Taba International Airport [36]
Umeå SwedenUMEESNU Umeå Airport [36]
Varna BulgariaVARLBWN Varna Airport
Warszawa PolandWAWEPWA Warsaw Chopin Airport [36]
Wrocław PolandWROEPWR Wrocław Airport [36]
Zadar CroatiaZADLDZD Zadar Airport [36]
Zakynthos GreeceZTHLGZA Zakynthos International Airport [36]

Destinations served by Yes Airways

Destinations served only prior to name change from Yes Airways to OLT Express.

CityCountryIATA codeICAO codeAirport
Faro PortugalFAOLPFR Faro Airport [40]
Fuerteventura SpainFUEGCFV Fuerteventura Airport
Gran Canaria SpainLPAGCLP Gran Canaria Airport
Oujda MoroccoOUDGMFO Angads Airport [41]
Szczecin PolandSZZEPSC "Solidarity" Szczecin-Goleniów Airport [40]

Scheduled flights destinations

Destinations served by scheduled passenger flights designated with airline codes O2/JEA. [42]

CityCountryIATA codeICAO codeAirport
Amsterdam NetherlandsAMSEHAM Amsterdam Airport Schiphol
Barcelona SpainBCNLEBL Barcelona El Prat Airport
Bristol United KingdomBRSEGGD Bristol Airport
Brussels BelgiumBRUEBBR Brussels Airport
Bydgoszcz PolandBZGEPBY Bydgoszcz Ignacy Jan Paderewski Airport
Cologne GermanyCGNEDDK Cologne Bonn Airport
Cork IrelandORKEICK Cork Airport
Dortmund GermanyDTMEDLW Dortmund Airport
Edinburgh United KingdomEDIEGPH Edinburgh Airport
Frankfurt GermanyHHNEDFH Frankfurt-Hahn Airport
London United KingdomLGWEGKK Gatwick Airport
Gdańsk PolandGDNEPGD Gdańsk Lech Wałęsa Airport
Gothenburg SwedenGOTESGG Göteborg Landvetter Airport
Hamburg GermanyHAMEDDH Hamburg Airport
Katowice PolandKTWEPKT Katowice International Airport
Kraków PolandKRKEPKK John Paul II International Airport Kraków-Balice
Liverpool United KingdomLPLEGPP Liverpool John Lennon Airport
Lyon FranceLYSLFLL Lyon-Saint Exupéry Airport
Łódź PolandLCJEPLL Łódź Władysław Reymont Airport
Marseille FranceMRSLFML Marseille Provence Airport
Memmingen GermanyFMMEDJA Memmingen Airport
Milan ItalyBGYLIME Orio al Serio Airport
Münster GermanyFMOEDDG Münster Osnabrück Airport
Newcastle upon Tyne United KingdomNCLEGNT Newcastle Airport
Oslo NorwayOSLENGM Oslo Airport, Gardermoen
Paris FranceORYLFPO Paris-Orly Airport
Poznań PolandPOZEPPO Poznań-Ławica Airport
Reykjavík IcelandKEFBIKF Keflavík International Airport
Rome ItalyFCOLIRF Leonardo da Vinci-Fiumicino Airport
Rzeszów PolandRZEEPRZ Rzeszów-Jasionka Airport
Saarbrücken GermanySCNEDDR Saarbrücken Airport
Stuttgart GermanySTREDDS Stuttgart Airport
Szczecin PolandSZZEPSC "Solidarity" Szczecin-Goleniów Airport
Venice ItalyVCELIPZ Venice Marco Polo Airport
Verona ItalyVRNLIPX Verona Airport
Warsaw PolandWAWEPWA Warsaw Chopin Airport
Wrocław PolandWROEPWR Wrocław Airport
Zadar CroatiaZADLDZD Zadar Airport

Destinations served by Jet Air and OLT Jetair

Destinations served by Jet Air (until 31 July 2011) and OLT Jetair (until 23 March 2012) but not offered by OLT Express. This list does not include destinations served solely by codeshare flights.

CityCountryIATA codeICAO codeAirport
Berlin GermanyTXLEDDT Berlin Tegel Airport [43]
Berlin GermanyTHFEDDI Berlin Tempelhof Airport [44]
Bremen GermanyBREEDDW Bremen Airport [45]
Copenhagen DenmarkCPHEKCH Copenhagen Airport [43]
Dresden GermanyDRSEDDC Dresden Airport [46]
Helsinki FinlandHELEFHK Helsinki Airport [47] [A]
Heringsdorf GermanyHDFEDAH Heringsdorf Airport [45]
Lappeenranta FinlandLPPEFLP Lappeenranta Airport [47] [A]
Munich GermanyMUCEDDM Munich Airport [45]
Nuremberg GermanyNUEEDDN Nuremberg Airport [45]
Oulu FinlandOULEFOU Oulu Airport [47] [A]
Prague Czech RepublicPRGLKPR Prague Ruzyně Airport [48]
Rotterdam NetherlandsRTMEHRD Rotterdam The Hague Airport [49]
Stockholm SwedenBMAESSB Stockholm-Bromma Airport [47] [A]
Tampere FinlandTMPEFTP Tampere-Pirkkala Airport [47] [A]
Turku FinlandTKUEFTU Turku Airport [47]
Vienna AustriaVIELOWW Vienna International Airport [43]
Zielona Góra PolandIEGEPZG Zielona Góra Airport [46]
Note

Fleet

The day OLT Express ceased operations, its fleet consisted of the following aircraft (as of 26 July 2012): [50] [51] [52]

AircraftIn ServiceOrdersPassengersOperatorNote
Airbus A319-100 2—156OLT Express Poland (YAP)
Airbus A320-200 9—180OLT Express Poland (YAP)
ATR 72-200 2—68OLT Express Regional (JEA)
ATR 42-300 2—48OLT Express Regional (JEA)
Total15—

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References

  1. ↑ "Wykaz posiadaczy Certyfikatu Przewoźnika Lotniczego (AOC)" (in Polish). Civil Aviation Office. Retrieved 23 April 2012.
  2. ↑ "Holidaymakers stranded as OLT Express suspends charters - Thenews.pl :: News from Poland". Thenews.pl. 2012-07-31. Retrieved 2014-02-08.
  3. ↑ "Updated: Air Malta suffers lease setback". timesofmalta.com. 31 July 2012. Retrieved 2014-02-08.
  4. ↑ http://wyborcza.pl/1,91446,12206556,OLT_Express_Regional_zlozy_wniosek_o_upadlosc_ugodowa.html [ dead link ]
  5. ↑ "OLT Express bez koncesji. Spółka złoży wniosek o upadłość? - WPROST". Wprost24.pl. 2012-07-27. Retrieved 2014-02-08.
  6. ↑ "Start Yes Airways" (in Polish). Business Traveller Poland. 26 August 2011. Retrieved 11 October 2011.
  7. ↑ Anna Żuchlińska (29 December 2011). "Yes Airways to już OLT Express Poland" (in Polish). Pasazer.com. Retrieved 23 April 2012.
  8. ↑ "Lotnisko w Gdańsku atrakcyjne jako baza. Teraz dla OLT Express" (in Polish). Rynek Infrastruktury. 22 February 2012. Retrieved 10 May 2012.
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  12. ↑ "Pierwszy lot nowych polskich linni. Tańsze niż pociąg". Gazeta.pl (in Polish). 1 April 2012. Retrieved 10 May 2012.
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  14. ↑ "OLT Express podnosi ceny i idzie na sprzedaż - Onet Biznes". biznes.onet.pl. Archived from the original on 2012-07-28.
  15. 1 2 "OLT Express złożył wniosek o upadłość - Finanse - WP.PL". Finanse. 27 July 2012. Retrieved 2014-02-08.
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  27. ↑ "Ministerstwo Gospodarki: Natychmiastowy zakaz działalności dla Amber Gold". wyborcza.biz. Archived from the original on 2010-07-09.
  28. ↑ "Klienci Amber Gold czekają na przelewy, a firma nadal kusi". wyborcza.biz. Archived from the original on 2010-02-10.
  29. ↑ "Amber Gold. Mimo zakazu ministra przyjmuje lokaty i idzie na wojnę z KNF". wyborcza.biz. Archived from the original on 2010-07-23.
  30. ↑ "Tłumacz Google".
  31. ↑ "Fool's Gold".
  32. ↑ "Amber Gold Sp. Z o.o. - lokaty i inwestycje - pomagamy Klientom indywidualnym znaleźć optymalne rozwiązania finansowe - złoto, inwestycje alternatywne, ubezpieczenia, kredyty, pożyczki, hipoteka, oddłużanie. - Amber Gold - lokata w złoto, inwestycje alternatywne, ubezpieczenia, pożyczki, hipoteka, oddłużanie". Archived from the original on 2012-07-13. Retrieved 2012-07-17.
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  35. ↑ Amber Gold Liquidated
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  38. 1 2 "Rozkład lotów TUI Polska" (in Polish). TUI Polska. Archived from the original on 2017-10-11. Retrieved 2012-04-23.
  39. 1 2 "Tidtabell för Scandjets charterflyg till Kroatien" (in Swedish). Scandjet . Retrieved 2012-05-10.
  40. 1 2 "Yes Airways: Loty do Portugalii" (in Polish). MojePrzeloty.pl. 2011-08-11. Retrieved 2012-04-26.
  41. ↑ "YES AIRWAYS: Loty dla Itaki" (in Polish). Latajznami.pl. 2011-03-10. Retrieved 2012-04-26.
  42. ↑ "Flight schedule". oltexpress.com. Retrieved 2012-04-01.
  43. 1 2 3 Paweł Cybulak (2008-02-29). "Łódź - Wiedeń, Kopenhaga i Berlin" (in Polish). Pasazer.com. Retrieved 2012-02-16.
  44. ↑ Paweł Cybulak (2007-11-30). "Jet Air: Kopenhaga, Berlin, Katowice" (in Polish). Pasazer.com. Retrieved 2012-02-16.
  45. 1 2 3 4 Anna Żuchlińska (2011-07-12). "Jet Air poleci ponownie dla OLT" (in Polish). Pasazer.com. Retrieved 2012-02-16.
  46. 1 2 Marcin Jędrzejczak (2009-06-16). "Jet Air poleci do Drezna" (in Polish). Pasazer.com. Retrieved 2012-02-16.
  47. 1 2 3 4 5 6 Anna Żuchlińska (2010-02-21). "Jet Air rozszerza współpracę z Wingo" (in Polish). Pasazer.com. Retrieved 2012-02-16.
  48. ↑ Paweł Cybulak (2011-09-22). "OLT Jetair uruchamia nowe trasy" (in Polish). Pasazer.com. Retrieved 2012-04-25.
  49. ↑ Anna Żuchlińska (2011-01-20). "Jet Air: Z Gdańska do Rotterdamu" (in Polish). Pasazer.com. Retrieved 2012-02-16.
  50. ↑ "Please validate request - Planespotters.net Just Aviation". Archived from the original on 2012-08-04. Retrieved 2012-07-26.
  51. ↑ "OLT Express Fleet | Airfleets aviation".
  52. ↑ "Please validate request - Planespotters.net Just Aviation". Archived from the original on 2012-08-04. Retrieved 2012-07-26.
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