AirTalk.org Aviation discussions newsgroups   Archives   FAQ   Search   Memberlist   Usergroups   Register   Profile   Log in to check your private messages   Log in  Flying Finn Halts Flights, Files For Bankruptcy          AirTalk.org Forum Index -> Edinburgh Airport View previous topic :: View next topic   Author Message fox1 Guest Posted: Tue Jan 27, 2004 2:47 pm    Post subject: Flying Finn Halts Flights, Files For Bankruptcy Source: Airwise January 27, 2004 Privately owned Finnish low-cost airline Flying Finn said on Tuesday it will ground all flights from Wednesday morning and will file for bankruptcy as it has been unable to resolve its financial problems. "Recent difficulties experienced by Flying Finn have reduced flight bookings, which has turned the company's positive cash flow back into negative," the company said in a statement. Earlier this month the group, which began operating less than a year ago, won court protection from creditors as it sought a cash injection from investors to solve its financial problems and try to avert the risk of flights being grounded. The company operates eight domestic flights in Finland. -- How's my posting? telephone 0800 0800 0800 0800 View my aircraft pictures: "http://www.jetphotos.net/showphotos.php?userid=1753" Back to top Juha Guest Posted: Wed Jan 28, 2004 8:06 pm    Post subject: Re: Flying Finn Halts Flights, Files For Bankruptcy On Tue, 27 Jan 2004 14:47:01 +0000, fox1 <fox1 (AT) NOSPAMedinburghairport (DOT) org.uk> wrote: Quote: Source: Airwise January 27, 2004 Privately owned Finnish low-cost airline Flying Finn said on Tuesday it will ground all flights from Wednesday morning and will file for bankruptcy as it has been unable to resolve its financial problems. Here's the latest news ob Flying Finn (sourrrrrce Finnish Broadcasting Company) The budget airline Flying Finn has managed to avert bankruptcy so far. Vantaa District Court sent the creditors of the beleaguered airline a request for statements, which are to be submitted by Friday next week. The companies leasing the planes used by Flying Finn had asked the airline to be placed into bankruptcy. However, the court ordered the current reorganization process to be continued. Flying Finn suspended all its flights from Tuesday night. The company's leadership met with investors behind closed doors all night long. A spokesman for CEO Peter Sevelius says that discussions are still constructive. The company needs an injection of 2.5 million euros. Since last summer Flying Finn has run up a debt of several million euros. Flying Finn announced on Tuesday that media reports of its financial difficulties made it extremely difficult to continue operations. It said that bookings had slumped, which had hit its cash flow that had been positive for a while. Back to top Display posts from previous: All Posts1 Day7 Days2 Weeks1 Month3 Months6 Months1 Year Oldest FirstNewest First         AirTalk.org Forum Index -> Edinburgh Airport All times are GMT Page 1 of 1   Jump to: Select a forum Aviation----------------alt.aviationAviation safety EnhancementPlanes, gliders and flying in AustraliaAviation et pilotage (Français)rec.aviationAviation (Aerobatics)Hot air, gas balloons and airshipsHang-gliding, paragliding, foot-launched flightAircraft Design & BuildingInstrument Flight RulesAviation (Classifieds)Military AircraftNaval AviationAviation (Miscellaneous Topics)Owning AirplanesAviators (General Discussions)Aviation related productsAircraft RestorationHelicopters and rotary wing aircraftsFlight SimulationSailplanesAviation (Students)Light aircraftFlying related activities in the UK Airports----------------alt.airportsEdinburgh Airport Glasgow Airport Humberside Airport Luton Airport Aberdeen Airport Glasgow Prestwick Airport  You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum Powered by phpBB © 2001, 2006 phpBB Group SEO toolkit © 2004-2006 webmedic.