Fly Olympic ceases operations

Victoria
By Victoria August 5, 2014 08:17

Fly Olympic ceases operations

Swedish carrier Fly Olympic AB has cancelled all flights and filed for bankruptcy.

The airline only commenced operations in February, offering flights from London Gatwick to Eritrea and Somalia via Stockholm and Athens. It blamed the services to Africa for the failure, which the airline said “performed dramatically below all reasonable expectations” for the failure.

“The losses sustained were too great for a company of our size to survive,” it said. “We had discussed with several investment groups over the last 10 days in a bid to save the company but unfortunately time ran out. All flights are cancelled and all reservations are therefore also cancelled.”

Victoria
By Victoria August 5, 2014 08:17