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Sterling Airlines files for bankruptcy

29 October 2008

Icelandic owned Sterling Airlines, a Danish low cost carrier, has ceased operations and today it filed for bankruptcy.  The airline was based in Copenhagen but it was owned by Iceland's Northern Travel Holdings.

Sterling Airlines merged with Maersk Air in 2005 but the total loss for both carriers exceeded DKK800 million and their co-operation lasted until 2006.  Significant fuel costs increases affected the expansion plans of Sterling accumulating losses for the company.  According to the management of Sterling Airlines, it was impossible to secure more investment and there was no option but to file for bankruptcy.

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