newstodate.aero
SEP 14, 2003 (newstodate): September 13 turned out to be the last day of operations for Bosnia-Herzegovina's carrier Air Bosna.
The carrier was forced out of business by increasing debts estimated between six and seven million USD, 2.5 million of which must be paid immediately.
Experts and officials agree Air Bosna was grounded because of poor management that has changed hands at least five times since the airlines inception in 1994.
Among Air Bosna's main creditors are Elmo Aviation from which it rented aircraft, various insurance companies and fuel distributors, and Eurocontrol.
The country's government has so far refused to save the airline by throwing in further investments at this stage.
The carrier was forced out of business by increasing debts estimated between six and seven million USD, 2.5 million of which must be paid immediately.
Experts and officials agree Air Bosna was grounded because of poor management that has changed hands at least five times since the airlines inception in 1994.
Among Air Bosna's main creditors are Elmo Aviation from which it rented aircraft, various insurance companies and fuel distributors, and Eurocontrol.
The country's government has so far refused to save the airline by throwing in further investments at this stage.