Germany-based GSA Leisure Cargo has filed for bankruptcy following the loss of a major contract.
The company at one time counted 14 leisure airlines amongst its customer base, but last year lost a major contract with TUI to the ESC Group.
Tillmann Peeters of restructuring firm Falkensteg Restrukturierung said that the company has applied to the relevant insolvency court in Dusseldorf.
Biner Bhr of White & Case Insolvenz has been appointed as trustee.
Other airlines listed as customers by Leisure Cargo include: Air Transat, Condor, Thomas Cook, Blue Air, Nordica, WDL Aviation.
Condor is part of the Thomas Cook group while WDL Aviation is owned by the same company as Leisure Cargo.
A spokesperson for Thomas Cook/Condor said: We are aware o…
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