The struggling Norwegian airline Flyr has failed with its rescue plan. Now the board sees no other solution than to file for bankruptcy and cancel all flights.
The board of Flyr decided on Tuesday evening to file for bankruptcy, according to a press release. A bankruptcy application will be submitted to the Oslo District Court on Wednesday.
All flights are canceled and ticket sales are stopped, according to the company.
”This is a sad day. WE tried. We gave everything we had in terms of energy, knowledge and experience, but unfortunately it wasn't enough,” says Erik G. Braathen, founder and chairman.
Erik G. Braathen, who was previously CEO of the defunct Braathens, founded Flyr in the summer of 2020.
The stock has collapsed on the stock exchange and the market value is at rock bottom. Flyr has been struggling with liquidity problems for a long time. In November, the airline announced that it wanted to raise a total of 700 million Norwegian kroner, divided into four tranches, to fill its coffers.
Source: DI.SE
