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FlyLAL cancels operations January 21, 2009

Posted by flightsnews in Flights News, FlyLAL.
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The Lithuanian Airline flyLAL has been forced to stop all of its services, after its proposed purchase by an investment fund faltered.The eastern European carrier ceased its operations on Saturday (January 17), after Swiss Capital Holdings failed to transfer the proposed £700,000 fee that it had agreed to purchase the airline with.FlyLAL is expected to file for bankruptcy in the next couple of days, which will affect around 30,000 travellers who have already booked services with the airline.

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