Britannia
20th Jan 2004, 04:29
Belgian charter airline Sobelair was declared bankrupt by a Brussels judge on Monday, putting hundreds of jobs at risk more than two years after its former parent, national carrier Sabena, suffered the same fate.
The Brussels commercial court rejected Sobelair's request to protect itself from its creditors, saying the airline's recovery plan was unrealistic and that the company did not have the necessary funding to finance it.
All Sobelair flights were immediately cancelled and Sobelair's main client Jetair -- a unit of German tour company TUI -- said it had activated a back-up plan to get more than 1,000 stranded passengers to their destinations.
The Brussels commercial court rejected Sobelair's request to protect itself from its creditors, saying the airline's recovery plan was unrealistic and that the company did not have the necessary funding to finance it.
All Sobelair flights were immediately cancelled and Sobelair's main client Jetair -- a unit of German tour company TUI -- said it had activated a back-up plan to get more than 1,000 stranded passengers to their destinations.