The Polish investor Amber Gold, owner of OLT Express, backtracks from the airline, as they announced yesterday. OLT Express operatesinternational and domestic flights from Poland and Germany. There are three different companies in Germany and Poland, but they are all using the same brand.
It´s only an short of year ago, when Amber Gold, until then owner of Polish regional airline Jetair, overtook the cash-stricken German airline OLT. In the following time Amber Gold invested much money in the airlines. OLT was rebranded as OLT Express Germany, announced new bases, commenced a lot of new routes with Saab 2000/Fokker 100 and announced to take over the German airline Contact Air. The Polish airline was rebranded as OLT Jetair and commenced 17 domestic routes in Poland with ATR 42/72 and Airbus aircraft early this year. Even in early 2012 OLT Jetair got the new name OLT Express Regional and a new airline was founded: OLT Express Poland, which commences routes with A319/A320 aircraft from Poland to several international destinations.
But the fast expansion was not successful at all: With the backtrack of Amber Gold it was announced too, that 11 of 17 domestic routes in Poland will be disconnected and all ATR 42/72 will be retired. The international schedule will proceed without major changes. And finally: it is to expect, that OLT Express Germany have now future in the Group. Therefore a new Investor for the German part of the OLT Express is sought.