Sterling goes bust

Copenhagen based Sterling Airways has cancelled all its flights and is filing for bankruptcy due to Iceland’s financial crisis it said.

“Over a three to four week period, the whole financial system melted down, and that resulted in our shareholder being unable to continue his support to the company,” the airline said in a statement.

“Negotiations have been conducted with several potential investors, but it was impossible to make ends meet. The inevitable result is that Sterling Airlines A/S has no option but to file for bankruptcy.”

Source: Routes News