The airline Air Finland has filed for bankruptcy and terminated all operations. The Helsinki-based charter airline began operations in 2003 and flew 400,000 passengers annually.
Air Finland grounded its last two Boeing 757-200 aircraft from the original fleet of 5 aircraft of this type.
Currently the company about 1 000 customers in various vacation destinations. The company will organize customer trip home.
Air Finland CEO Mika Helenius Saher blamed high fuel prices and markets over-capacity.