A sad day for Danish aviation indeed. I remember a couple of years ago when Cimber hadn't yet bought Sterling. Sterling was a pretty big airline back then, especially in the low cost market. I flew with them about one week prior to their bankruptcy, in a Boeing 737-700 on a short route between two scandinavian cities. We were about five passengers in the whole cabin and the flight attendants didn't look very happy...
However, I never understood how they made any money under Cimbers ownership either (obviously they didn't). They flew all these strange routes, like from Copenhagen to the island of Bornholm in a Boeing 737. I'm no expert, but that doesn't sound profitable at all.
There aren't many Danish airlines left now,? Besides SAS, the only carriers I can come to think of is Sun Air of Denmark and DAT.