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The Stuttgart flight service provider Stuttgarter Flugdienst GmbH (SFD) has filed an application for the opening of insolvency proceedings. Following this, the Local Court of Esslingen ordered provisional proceedings and appointed the restructuring expert Mr Steffen Beck from PLUTA Rechtsanwalts GmbH as the provisional administrator on 13 May 2019. Filing for insolvency became inevitable for the company due to liquidity problems.
The company, which currently has two aircraft owned by third parties, provides business and private charter flights. Moreover, the company offers a variety of services such as aircraft management, maintenance as well as experienced flight personnel for the customers’ aircraft. These services are available both for commercial and private customers. SFD is considered to be one of the oldest flight service providers in Germany and used to have up to twelve aircraft at their disposal. The company currently has a staff of 10 employees whose salaries are guaranteed for a period of three months thanks to specific substitute benefits provided under German insolvency law.
The members of the PLUTA team have already obtained an initial overview of the company’s financial situation. “We will start looking for an investor in the near future. The company has a very promising business model and is active in a demanding market. We are therefore confident that we will find a solution for SFD,” said the restructuring expert Mr Beck, whose team also includes the attorney Dr Matthias Lehr.
SFD is part of the EHEIM Group, which is based in Deizisau to the east of Stuttgart. The group was founded by Gunther Eheim in 1949 and has subsidiaries in the aquaristics, aviation and construction sectors.