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.
Latest in: News
Rooftop blaze in Helsinki's Punavuori
A fire on Kankurinkatu in central Helsinki's Punavuori district has attracted more than a dozen emergency rescue units. Residents were evacuated due to the rooftop fire, which broke out around 5am Monday.
The U.S. snatches bronze from Finland
Finland’s men’s ice hockey team lost the World Championship bronze match to the U.S. in a thriller that went into overtime and a shootout.
Son drowns, father missing after fishing trip
A son and father went fishing on Näsijärvi Lake in the Pirkanmaa region on Friday. The son was later found drowned, while the father is still missing.
Finland to toughen rape legislation
At present, Finnish legislation on rape is more lenient than in neighbouring countries such as Sweden and Norway.
Gaming industry draws foreign talent to Helsinki region
Turning to the electronic gaming industry, more and more foreign companies are interested in setting up branch offices in Helsinki. Finnish firms also employ many foreigners, with about one-third of workers at major gaming companies from abroad.
Unknown soldiers laid to rest on Memorial Day
As this is also Whit Sunday or Pentecost, many shops are closed.
Soini and SDP contest workers’ support
The Social Democratic Party’s recent ministerial changes, which tipped the gender balance and created a female-majority cabinet, brought strong criticism from Finns party leader Timo Soini. He claimed the party had abandoned working-class men. Soini's comments provoked a strong response from the SDP.
Finnish Eurovision contestant: Kiss may have cost points
The ESC title remains in the Nordic region, but the Finnish entrant failed to attract much support.
Siegfrids hopes for Eurovision success
The Danish pre-contest favourite believes that this could be Scandinavia’s year, while Finnish contestant Krista Siegfrids promises to celebrate whether she wins or not.
Lions’ golden dream dies in Stockholm
Finland’s men's ice hockey team lost 3-0 in their World Championship semi-final against arch-rivals Sweden on Saturday in Stockholm. The Lions will play in the bronze medal match on Sunday.