ORANJESTAD – After a court case today, which dealt with a dispute between the partners, the Venezuelan Esteban Valles and Onno de Swart, the court ruled to temporarily suspend Mr. De Swart and Mr. Valles, as directors of the company.
This decision has as result that the Aruban aviation company falls into a financial crisis, which seems irreversible. Mr. Hubert Zievinger will temporarily take the position of managing director of the company.
Problems between the shareholders, looting of funds, and numerous debts, are putting pressure on the company. It seems that this situation will soon explode.
There are about 147 employees that depend on this company each month. There are also employees here in Curaçao, including some former Dutch Antilles Express (DAE) employees.
The airline recently inaugurated its operations between Curaçao, Aruba and other destinations.
Information coming from Aruba indicates that the most critical part is the insurance of the aircrafts. This will expire this coming Friday. If the company does not pay for these insurances, then they cannot operate.
De Swart’s efforts to rescue the company have now been put on hold with the court’s decision. Now they have to wait two weeks for a court’s decision on another case.