The Vantaa District Court declared the budget airline Air Finland bankrupt Thursday due to insolvency. According to the bankruptcy filing, the company had accumulated debts amounting to more than 12 million euros.
The airline’s biggest creditors are the Swedish collections and financing firm Svea Ekonomi, the American aircraft leasing company ILFC and the pension insurance company Ilmarinen.
The privately-owned Finnish business group Berling Capital was also among the airline’s creditors, having acted as a guarantor for loans provided by Svea Ekonomi.
The court appointed attorney Mika Salonen as the liquidator in the case.
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