Swiss Airline Hello Grounds All Flights After Running Out of Cash
“The management was able to avoid an uncontrolled breakdown of the operation,” the airline said in a statement on its website.
Hello blamed a number of factors for “temporarily” ceasing operations, including “bookkeeping errors” by the former Chief Financial Officer who departed in September, as well as the cancellation of a large contract with Tui Germany, a strong Swiss Franc versus the Euro and increasing competition in the tourism business.
The airline said all four of its Airbus A320 jets were safely on the ground in Switzerland. According to planespotters.net data, all four Hello aircraft are leased: one from BBAM Aircraft Leasing, one from CAT Aircraft Leasing and two from GECAS.
All 140 now-unemployed Hello employees were being assisted by a “social plan” and a “care team.”
Based in Basel since its founding in 2003, Hello served about two dozen tourist destinations in Europe and North Africa.