The airline canceled all of its flights, effective immediately.

Managing director Karsten Balke stated ‘’ We ultimately failed to successfully complete our financing efforts to meet short-term liquidity needs. We very much regret that, as a consequence, we had no choice but to file for bankruptcy.’’

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.