Bankruptcy
The accident was the final nail in the coffin for Euroceltic Airways, and the airline eventually returned losses of €1.1 million. Euroceltic had its Air Operator's Certificate revoked by the Civil Aviation Authority and consequently ceased all operations on 21 January 2003, with the loss of 120 jobs. Many of its routes were subsequently taken over by Aer Arann, and its remaining aircraft (Fokker F-27 registered G-ECAH) was returned to its lessor in Scandinavia.
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Famous quotes containing the word bankruptcy:
“Disappointment is a sort of bankruptcy—the bankruptcy of a soul that expends too much in hope and expectation.”
—Eric Hoffer (1902–1983)
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—Washington Irving (1783–1859)
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—Henry David Thoreau (1817–1862)