TransAer, the Irish based independent
charter airline, is to apply to the
High Court for the appointment of a
provisional liquidator.
The decision follows the failure of the
airline to secure additional investment
to secure the viability of the business
TransAer sustained significant losses
last year as a result of the conflict
in Kosovo which had a negative impact
on the Greek, German and Turkish
markets where TransAer operated.
The company also recorded heavy losses
as a result of a $20million investment
in the US airline TransMeredian.
Source:
www.RTE.ie