On 24 March 2006, only three years after its starting, the small air carrier Styrian Spirit with headquarters in Graz, immediately stopped its operations because of insolvency. As a consequence, all scheduled flights had to be cancelled at short notice. The company’s liabilities as of March 2006 amounted to EUR 44 million. The management sent a notification of the planned dismissal of all 152 employees involved to the Labour Market Service (AMS) still on that day. Only a few days prior, possible investors had abandoned their interest plans.