Type
Bankruptcy
Country
Sweden
Region
Location of affected unit(s)
Sector
Transportation / Storage
Land, Water And Air Transportation
Air Transport
51 - Air transport

250 jobs
Number of planned job losses
Job loss
Announcement Date
2 March 2007
Employment effect (start)
Foreseen end date

Description

Fly Me Sweden, a Swedish low fare airline, has filed for bankruptcy. The District Court of Gothenburg declared the company bankrupt on Friday 2 March 2007. Fly Me made a loss of 268.5 million SEK in 2006 and 173 million SEK in 2005. After the bank had frozen the ticket payments, on 2 March the board of Fly Me Sweden decided with immediate effect to stop ticket sales and suspend all flights. The company’s 250 employees have lost their jobs as a consequence of the bankruptcy.


Sources

  • 2 March 2007: Press release from Fly me
  • 13 March 2007: Svenska Dagbladet

Citation

Eurofound (2007), Fly Me Sweden, Bankruptcy in Sweden, factsheet number 65130, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65130.