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attitudetravel
Joined: 15 Nov 2007 Posts: 395 Location: London, UK
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Posted: Tue Nov 18, 2008 7:52 pm Post subject: Sterling Airlines rescue bid fails |
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Talks between the giant Scandinavian low fare carrier Sterling Airlines and an unnamed potential buyer have ended without resolution. The buyer withdrew their proposed offer after failing to win the endorsement of the Danish Federation of Salaried Employees.
Sterling declared bankruptcy at the end of October 2008 when its Icelandic owners could no longer finance the airline following the collapse of Iceland's economy.
The withdrawal from talks by the unnamed buyer means that Sterling - once one of the four big Western European low fare airlines, alongside Air Berlin, easyJet and Ryanair - is now very unlikely to get a second lease of life.
| Quote: | | The Icelandic-owned airline, which filed for bankruptcy last month, will now be dismantled and sold in bits and pieces, the trustees said in a statement. |
Source: Sterling takeover talks collapse (Associated Press) |
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