The Greek airline Orange2Fly has ceased operations. The reason is that a bank loan of eight million euros was not granted. The carrier is now under bankruptcy protection.

Local media reports that the National Bank of Greece, which is privately owned, is said to see the granting of a loan that Orange2Fly would have needed to bridge the gap as "unsustainable". The company points out that they have no significant debts.

The credit institution points out that the carrier was unable to meet the guidelines for granting loans. Therefore, the application from Orange2Fly, which employs around 200 people, had to be rejected. The carrier then canceled all flights.

Fleet shrank to one plane

The charter airline then filed for bankruptcy protection proceedings under Greek law. This has meanwhile been approved by a court in Athens in the first instance. Orange2Fly wants to reposition itself through this measure. The company received financial support from the state last year. The vast majority of the amount was granted in the form of tax breaks.

The Orange2Fly fleet shrank to just one Airbus A320 due to the corona pandemic. The other three machines were returned to the lessors between March and July 2020. The last active aircraft has the registration SX-SOF.