Flying Finn
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Flying Finn
I hear conflicting accounts from Finland that Flying Finn have gone for bankruptcy protection, they are still flying, they are not flying, the lessor is trying to repossess the MD-80s, and so on. Looking at the on-line arrivals information for Helsinki airport the domestic flights appear to be operating.
Anyone have the current status ? They seemed to stop operating into London Stansted last week.
Anyone have the current status ? They seemed to stop operating into London Stansted last week.
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It's looking shakey. After a failed attempt to fly the planes to Estonia to avoid reposession about 10 days ago, they are restricted to internal flights only, hence no Stansted service. I think the newspaper reported debts of around €6m, so it looks like they need money fast. Were still operating last week AFAIK.
Good luck to all involved.
Good luck to all involved.
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Sadly, it looks all over now:
Flying Finn Folds
12.02.2004, 14.32
The budget airline Flying Finn has finally succumbed to its financial burden. The airline declared bankruptcy on Wednesday, after failing to find backers to take over its seven-million-euro debt.
The company's owners had been willing to contribute over three million euros, but the 11th-hour decision of two potential investors sealed the airline's fate.
The airline had been seeking debt restructuring. The airline's main creditors opposed a restructuring process because Flying Finn has been claiming insolvency since mid-January.
The no-frills airline has been operating for only around a year, mainly on domestic routes.
Finnish News Agency, YLE24
Flying Finn Folds
12.02.2004, 14.32
The budget airline Flying Finn has finally succumbed to its financial burden. The airline declared bankruptcy on Wednesday, after failing to find backers to take over its seven-million-euro debt.
The company's owners had been willing to contribute over three million euros, but the 11th-hour decision of two potential investors sealed the airline's fate.
The airline had been seeking debt restructuring. The airline's main creditors opposed a restructuring process because Flying Finn has been claiming insolvency since mid-January.
The no-frills airline has been operating for only around a year, mainly on domestic routes.
Finnish News Agency, YLE24
