De Vlieger buys out cash-strapped Air Holland

26 February 2004

AMSTERDAM — Cash-strapped airline Air Holland has been bought out by Amsterdam businessman Erik de Vieger and his company Holland Excel. It is hoped that Air Holland’s Antillean flights will be absorbed into the takeover company.

Air Holland recently won a stay on debt repayments from Haarlem Court. The De Vlieger takeover means that the last remaining jobs at Air Holland have been saved, company administrator Peter Ingwersen said on Wednesday.

Ingwersen also has faith that Air Holland’s operations will continue now that Holland Excel has taken over the last 30 workers, rights, permits and infrastructure to fly to the Netherlands Antilles, news agency ANP reported.

But the takeover does not mean that Holland Excel will assume responsibility for Air Holland’s obligations, debts and the transportation of its stranded passengers.

Air Holland was forced to cancel flights earlier this month, stranding hundreds of people at Schiphol Airport. Dutch passengers were told to return home, while foreign passengers were offered hotel accommodation.

It is also not yet certain whether Holland Excel will continue Air Holland’s flights to the Antilles. H. Prins, the director of Excel Eviation — which owns Holland Excel — said the company is still in talks with travel agencies.

Prins said the company needed to know by the start of next week at the latest if it can operate three to four flights to the Antillean island of Curacao. Holland Excel will then fly under its own name.

Subject: Dutch news