newstodate.aero
Jun 27, 2012 (newstodate): The Finnish charter carrier Air Finland has folded its wings and ceased operations from June 26.
Citing fuel costs, excess capacity in the market and strong competition, the airline has run out of capital and filed for bankruptcy and its fleet of three Boeing 757-200 aircraft are now grounded.
The carrier with Mika Helenius as its CEO was set up in 2002 by five private investors and has been providing flights from Finland to leisure destinations for tour operators.
Citing fuel costs, excess capacity in the market and strong competition, the airline has run out of capital and filed for bankruptcy and its fleet of three Boeing 757-200 aircraft are now grounded.
The carrier with Mika Helenius as its CEO was set up in 2002 by five private investors and has been providing flights from Finland to leisure destinations for tour operators.