Insider Business Greek airline Astra grounds flights to work on restructuring

Greek airline Astra grounds flights to work on restructuring

Small Greek carrier Astra Airlines has grounded all scheduled flights to work on a financial restructuring.

The International Air Transport Association (IATA) suspended the airline, freezing its transactions and stopping any ticketing through IATA accredited travel agents.

“Passengers will be definitely notified within the next seven days at the latest about the settlement of financial-related claims,” the airline said in a statement on its website.

Astra, with a fleet of four aircraft, three of which are ATR turboprop planes, launched operations in 2008, starting with flights from Thessaloniki to Rhodes. It later expanded its network to more island destinations.

It also flew government subsidised routes.

(Reuters)

 

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