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Sterling Airlines files for bankruptcy

Wednesday 29 Oct 2008 9:32am

This morning, Sterling Airlines has filed for bankruptcy - leaving many passengers stranded with worthless tickets as the airline has cancelled all flights. In a statement from the company, they said 'Customers who have directly purchased their tickets on Sterling's website will unfortunately not be refunded neither will their return flights. You therefore have to book your return flights with another airline company. ' Passengers who have booked flights via a credit card should contact their bank to seek a refund on the unused portion of their tickets. In an explanation as to why the airline has gone bankrupt, Sterling cited high oil prices and a general slowdown in the travel market having both put immense strain on the company. Despite 'fighting a battle to keep the company alive', the airline could not withstand the effects of the current financial crisis, which foiled Sterling's efforts to secure additional financing. 'The inevitable result is that Sterling Airlines A/S has no option but to file for bankruptcy,' said the company.

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