EMCC European Monitoring Centre on Change

Air Finland

Company/Organisation:
Air Finland

Geographic Location

Country: Finland
Region: Uusimaa; Etelä-Suomi; Manner-Suomi
Location of affected unit(s): Vantaa

Company

Sector: Transportation / storage
Transportation and storage
51.1 - Passenger air transport
Number Employed: 200

Employment Effects

Announcement Date: 26-06-2012
Planned Job Reductions min: 200
Planned Job Reductions max: 200
Type of Restructuring: Bankruptcy

Additional Information

Finnish airline Air Finland has filed for bankruptcy and ceased all operations. The airline has had approximately 200 employees.

Air Finland began operating in 2002 and has primarily flown to various holiday destinations. The company has cited fuel prices and overcapacity in air transport as reasons for its problems.

As a result of the bankruptcy about 2000 holiday makers were left without a return flight. About half had booked their trip through Air Finland and the other half through other travel agencies.

It is reported that the bankruptcy came as a complete surprise to Air Finland employees. Staff were aware of the company's problems but expected rather temporary layoffs.