Guernsey Ports say the majority of Blue Islands' outstanding debt it is owed has been recovered.
Two ATR-72s have been impounded at Guernsey Airport since Blue Islands ceased operations in November.
Guernsey Ports says they have now been released after a settlement was reached with the aircraft owners, recovering "the majority of Blue Islands’ outstanding debt to Guernsey Ports."
A claim will be made to the airline’s liquidators to recover the remaining unpaid fees.
The amount that was owed to Guernsey remains undisclosed - Jersey's government is owed millions.
STSB President, Deputy Mark Helyar, said the settlements represented a very positive result:
“Following the sudden collapse of Blue Islands, Guernsey Ports moved quickly to protect the island’s interest and recover money owed by the airline.
"It has involved some very complex, detailed discussions with the owners of these aircraft, with expert legal assistance being provided by the Law Officers.
"As a result we have now reached a settlement that is very positive for the island, which is a credit to the team involved.”
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