News: Passengers left stranded as Sterling Airways go bust
Flights > News > # 1943 (30/10/2008)
Up to 700 passengers have been left stranded at London's Gatwick airport after Icelandic-owned budget carrier Sterling Airways said it would file for bankruptcy.
The airline, which is based in the Danish capital Copenhagen, blamed the Icelandic banking collapse for making its owner unable to continue funding.
All Sterling flights have been cancelled, including services from Gatwick to Copenhagen and Billund in Denmark and the Swedish capital Stockholm.
Flights from Edinburgh to Denmark had already stopped for the winter.
A statement on Sterling’s website said: "Over a three to four weeks period, the whole [Icelandic] financial system melted down, and that resulted in our shareholder being unable to continue his support to the company.
"Negotiations have been conducted with several potential investors, but it was impossible to make ends meet."
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