French carrier Air Horizons has been forced to ground operations, while separately a commercial court has set a three-week observation period during which administrators must determine the cash-strapped carrier’s future.
Air Horizons, which operated as Euralair Horizons before being acquired by its current owner Angel Gate Aviation, uses a Boeing 737-800, a 737-400 and three 757-200s on charter missions. It also has two Boeing 737-200s which perform scheduled services to Morocco.
A spokesman for the carrier says: “We have no flights, we have no aircraft. We have two or three different American companies which we lease aircraft from. They asked to take the aircraft back.”
Avsoft’s ACAS database says the aircraft belong to Lehman Brothers, CIT Group, Triton Aviation Services, GATX Capital, ICX Corporation, SP Aircraft Owner I LLC and Wells Fargo Bank.
Air Horizons, which is under the care of court-appointed Parisian administrator Maitre Chavaux, entered suspension of payments on 1 October.
Source: Flight Daily News
