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Blue Wings suspends operations

14-Jan-2010 1:11 PM

Blue Wings suspended operations on 13-Jan-2010, citing financial difficulties, with the carrier adding it is currently holding a “discussion over our future economic sustainability” (Bloomberg/Reuters, 13-Jan-2010). Blue Wings stated its financial difficulties are the result of a lack of financing from shareholders and the airline is now seeking a new investor. German aviation regulator, LBA, has now suspended Blue Wings’ licence, following the carrier’s announcement. Owner, Alexander Lebedev’s holding company, National Reserve Co, has requested LBA assist to “regain control, overcome financial difficulties and restore the operations”, adding it is ready to provide financial support if “Blue Wings staff guarantees openness and transparency”. However, LBA has responded, stating it is not a matter for the regulator. It is the carrier's second stoppage in less than 12 months.