Aero Lloyd

Aero Lloyd was founded on December 20, 1980 and launched operations in March 1981 with three Sud Aviation Caravelles.[4] By 1982, the airline received 3 ex-Garuda Indonesia Douglas DC-9-32 aircraft.

In 1986, the airline began to receive McDonnell Douglas MD-80 aircraft used to add new destinations. In 1988, Aero Lloyd launched scheduled services to London in the United Kingdom, Paris in France, and Zurich in Switzerland with the newly acquired aircraft. However, by 1992, Aero Lloyd dropped scheduled operations after realising it was not a good move for the airline.

In 1998, the Bayerische Landesbank took over a majority stake of 66% with the intention of selling it on to a strategic buyer. The Bayerische Landesbank was also the largest lender. In 2000, the return on sales was below 1% and thus below the industry average. In 2001 the Bayerische Landesbank had to grant a loan of 20 million euros to ensure liquidity. Aero Lloyd achieved a market share of around 12% in 2002, but suffered from overcapacities on the market.

The airline ceased operations at 06:00 local time on October 16, 2003 after shareholders refused to continue funding the airline. The collapse left 4,000 passengers stuck at German airports and 4,500 stuck overseas.[5][6] Its assets were acquired by Aero Lloyd founder, Bogomir Gradisnik. Under the management of Gradisnik's associate, Miso Aksmanovic, the company was reshaped into a smaller charter operation named Aero Flight which was established in March 2004 and started operations on March 26, 2004. Aero Flight ceased operations in October 2005.