The story
The airline was established on 26 April 1991 as Air Exel Commuter on a co-operational base with Dutch national carrier KLM. Scheduled flights were launched on 1 May of the same year. As part of the parent's move to integrate the services of its feeders, the company was renamed to KLM Exel in January 1998. On 6 November 2004, the co-operation with KLM ended, and the airline became Air Exel Netherlands.
One month later, in December 2004, Air Exel's Chief Executive Officer, Harm Prins, was arrested on charges of fraud, blackmail, and money laundering. The investigation brought to light financial difficulties with Air Exel, which was subsequently shut down on 31 January 2005.
From Wikipedia’s article on Air Exel, shared under CC BY-SA 4.0.3