Plans by Gerd Brandecker, founder and owner of Cirrus Airlines and Aviation Investment Gmbh, and his business partner Axel-Georg Andre, to acquire a majority share stake in HTM Helicopter Travel Munich GmbH (EBAN July) have failed to materialise.

Hans Ostler says: "I am still the sole owner of HTM Helicopter Travel Munich GmbH." He says the statement that a deal had been finalised was premature. "At this time there had been only one meeting between the future partners and there was only a LOI in existence and not the final contract. During a second meeting it became clear there was not a common basis for the future. The equity holding by Gerd Brandecker and Axel-Georg Andre was therefore not realised."

HTM holds IFR and offshore licences and runs its own flying school. Founded by Ostler in 1997, it operates 13 helicopters including the A109, EC135 and 145, AS350 and EC120 operating from bases at Munich, Ottensoos, near Nuremberg, Emden and Salzburg. Cirrus Airlines, founded in 1995, carried more than 400,000 passengers in 2009.