Published On: Mon, Jan 9th, 2017

InselAir receives first part of promised financial support

inselairWILLEMSTAD – The local aviation company InselAir has received the first tranche of the promised financial support. They received about 3 million guilders at the end of December last year.

According to the Minister of Economic Development Eugene Rhuggenaath, there are also agreements with the current management on the involvement of the government in the airline. The government and InselAir will appoint each two representatives in the Supervisory Board. The fifth member, who will also be the chairman of the board, will be appointed by both parties.

The Minister also indicated that the government will appoint a representative in the management team. He emphasized that the starting point is to strengthen the management. The government will appoint a second financial director together with the current on and a chairman of the management team, who will work together with the chief executive officer.

Earlier Minister Rhuggenaath indicated that the government will not be part of an airline again as was the case during the ALM and DCA period. But seeing the huge economic impact the bankruptcy of InselAir could have on the local economy, the government has to step in to save the airline. InselAir employs about 600 employees directly and 2000 people indirectly.

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