Liquidators give up attempt to sell-off bankrupt low-cost airline
Copenhagen - Attempts to sell off bankrupt low-cost carrier Sterling Airlines as a single entity have been ditched, liquidators said Tuesday.
Danish-based Sterling Airlines filed for bankruptcy on October 29, saying it had been impacted by the global recession and "significant fuel cost increases."
Liquidators cited opposition from the Danish Federation of Salaried Employees in Service Trades for giving up the attempt.
"We were very surprised," liquidator Pernille Bigaard said in a statement, saying the union had said on Monday that they had pulled out of the talks.
The liquidators had aimed to save 430 jobs, a third of Sterling's staff of some 1,100 employees.
A sticking point appeared to be demands to renegotiate terms for pilots and other crew members, which the union said would have posed a threat to the "Danish model".
The liquidators said they would now look for new buyers. (dpa)