Air Finland ceases operations due to fuel prices and overcapacity
Around a thousand passengers have been stranded as Air Finland (OF) ceased operations this week, suspending all flights. The carrier’s CEO, Mika Helenius, told Finland’s national broadcaster YLE that high fuel prices, overcapacity and a shortage of capital were to blame.
The privately owned company began operations in 2002. It served mostly leisure destinations from Finland to countries such as Greece, Spain, Turkey and Dubai, using a fleet of four Boeing 757-200s. It also conducted aircraft lease services. The company’s head office and base was at Helsinki Airport in Vantaa.
So far, the European carriers Malev, Spanair, Cirrus, Cimber Sterling, Skyways, Central Connect Airlines and now Air Finland have all ceased operations in Europe in 2012.
STT / YLE
[photo courtesy Air Finland]