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Danish Tourists Stranded in Crete as Airliner Goes Bankrupt

Dozens of Danish tourists were stunned (and probably angry) to learn at the Chania airport on Friday that the airliner Cimber Sterling to take them back home had gone bankruptcy. Local news website Cretalive.gr reported that the tourists were unable to return home and that  local tour operations were doing their best to find alternatives for them.

Danish airline Cimber Sterling goes bankrupt after owners stop financial support

 Denmark’s main domestic airline has declared itself bankrupt after its owners decided to stop their financial support.

Cimber Sterling has faced rising costs and fierce competition from other European budget carriers when it expanded routes beyond Denmark. The company expected a deficit for 2011 of 200 million kroner ($35 million).

The company said Thursday its four domestic and European charter flights were cancelled and more than 600 jobs were at risk.

Last August, Ukrainian businessman Igor Kolomoisky sparked hopes of a financial recovery when he acquired 70.8 per cent of the stakes. However, Cimber Sterling closed several southern Europe routes last month and trimmed 200 jobs as it refocused on domestic traffic. ( AP via CanadianBusiness.com)

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