Florida-based AerLine Holdings has announced it has entered into negotiations with an unspecified third party over the sale of its wholly-owned subsidiary, XTRA Airways (Fort Lauderdale International).
XTRA Airways is a passenger charter carrier, also based out of Florida, that specializes in group air travel throughout the Americas. It currently operates a fleet of seven B737-400s and two B737-800s primarily on contracts for corporate incentive groups, sports teams, entertainers, civic leaders, students, and other groups. A Part 121-certificated carrier, XTRA Airways is authorized to fly within Europe and to conduct scheduled flights between the United States and China.
Following the decision to divest its interest in the carrier, AerLine Holdings said seven of XTRA Airways' eight B737s have been disposed of with only a single aircraft to remain by June 2018.
“We have put the company in the best position to permit a new owner to add whatever aircraft fleet type that best suits its operational needs, without the burden of expensive leases or old technology equipment. XTRA Airways is the perfect vehicle to launch a new airline venture with a clean balance sheet,” airline CEO Frank Visconti, said.
AerLine Holdings, a sister company of AerSale (United States of America), expects to select a buyer for XTRA Airways before the end of April 2018.
Last year, the firm attempted to dispose of its Songbird Airways (Lakeland) unit to Baltia Air Lines (New York JFK). The deal did not, however, close.
