French budget airline Aigle Azur has been forced to shut down after the commercial court rejected financial rescue offers, leaving 1,150 employees out of work.
It comes after the airline filed for bankruptcy at the start of September and cancelled all its flights.
In a statement addressed to employees, the airline explained that “the company’s financial situation and the resulting operational difficulties do not allow us to ensure flights after the evening of September 6”.
The airline which started right back in 1946 operated flights from France to 21 destinations across Europe, Africa, and the Middle East, with a fleet of Airbus A320 and A330 planes.
Aigle Azur
France’s transport secretary Jean-Baptiste Djebbari released a statement about the closure saying that Aigle Azur had been given its “best chance” to secure a recovery.
This included the cancellation of “several million euros” in social and tax debt.
The largest shareholder in Aigle Azur is the Chinese conglomerate HNA Group, which owns Hainan Airlines, with a 49 per cent stake.
In a statement on Aigle Azur’s website, the carrier explained that customers with existing tickets are not guaranteed compensation.
Aigle Azur
Passengers who have paid for their tickets with a credit card are encouraged to enquire about the insurance conditions and refund possibilities of their tickets while passengers with travel insurance are encouraged to contact their insurance company.
The airline said it offered all its customers “its most sincere apologies”.
