Finnish holiday airliner Oy Air Finland Ltd better known as Air Finland has cancelled all its flights and will leave a bankruptcy petition. The financial results of the company in previous years suggested this was a very real possibility. CEO Mika Helenius said that high petrol prices and the current overcapacity in the industry were the final straw.
The company has been flying to a handful of holiday destination with its four Boeing 757 planes with routes to places such as Alicante, Madeira, Malaga, Crete (Chania), Las Palmas, Tenerife, Rhodos, Dubai and Antalya offered debending on the time of the year. Around 1000 passengers are currently abroad waiting to hear more news on how to return home. Discussions with Finnish Consumer Agency regarding that are reportedly ongoing.
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