The bankruptcy court of Curaçao has agreed to defer the Insel Air’s required payments, the airline said in a news release.
Earlier this year, the Government of Curaçao announced it would loan 33 million guilders (approximately $18.4 million) to the beleaguered airline, according to a Curaçao Chronicle report.
“The management board of Insel Air International is very appreciative of the vote of confidence shown by the positive response of the many creditors that accepted the proposal for the extension of the moratorium,” the airline said in a news release.
The airline’s management said the extension is “an opportunity to eventually provide its commercial partners with an improved benefit in a very near future.”
“The operations of Insel Air International are assured to be maintained for the future,” the airline said in a news release. “Meanwhile, the management board will continue its pursuit of a strategic partner with the assistance of all stakeholders.”
In March, InselAir said it planned to focus on inter-island service between Aruba, Bonaire, Curaçao and St. Maarten. As a result, the airline dropped service to and from several destinations, including Havana, Miami and Quito, Ecuador.
In addition to the loan, $1.38M federal tax lien was filed against the airline in Miami, the South Florida Business Journal reported last month.