Germany’s Industrieflug IPS Air Service has closed down. The company, which was established in 1978, was put into liquidation on July 31 by both its owners. Said director of operations Michael Hoeck: “Aviation is a dynamic and ever-changing field of business. This, together with technical innovations, changing regulations and economical realities sometimes take their toll.” Industrieflug says it would like to thank its clients and friends in the business for, in some cases, decades of partnership and fun.