Bankrupt airline Sterling grounds all flights
Sterling announced on its web site early Wednesday morning that it was immediately canceling all service. The Copenhagen-based airline's flights to and from Oslo were among those dropped, and at least 350 Norwegian passengers had to try to find others means of transport.
Company officials claimed that management, the board and major shareholders had fought for the past several weeks to keep Sterling aloft. They ultimately decided they had no choice but to file bankruptcy proceedings.
Passengers holding tickets bought over Sterling's web site will not get their money back, and will become creditors of the corporation. Sterling's low-fare partner airline Norwegian was trying to accommodate some passengers on its own flights, as capacity allowed.
Norwegian and Sterling cooperated on several overseas routes including those to Malaga, Nice and Alicante. Flights leaving Oslo's airport at Gardermoen on Wednesday were to be offered seats on Norwegian flights.
Sterling was initially founded in the 1960s and was wholly owned by firms controlled by Norwegian shipping tycoon Fred Olsen from 1995 to 2005. Olsen's interests sold Sterling to an Icelandic investment firm three years ago.
Iceland and its major banks and businesses have gone from feast to famine during the international financial crisis. Money has all but evaporated in recent weeks, and Sterling said its main Icelandic owner no longer could continue to offer economic support.
Sterling's bankruptcy also strands passengers who currently are abroad. They must find their own means of getting home, and pay for new return tickets. Sterling said some passengers may get help from their travel insurance companies.
Fonte:
http://www.aftenposten.no/english/business...icle2739864.ece
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