More than 400 jobs are expected to be lost through Norwegian low cost airline Flyr going out of business.
The airline has filed for bankruptcy after failing to raise much-needed cash – amounting to $33m – for working capital needs and has halted all flights.
Flyr’s failure comes days after rival low cost carrier Flybe closed down.
“There is no longer a realistic opportunity to achieve a solution for the short-term liquidity situation,” Flyr said.
“All departures and ticket sales have been cancelled.”
Flyr – which has a fleet of 12 Boeing 737 planes – has only been in existence for less than two years.
