Halt of Operations
April 29, 2008 – In January, Nationwide resumed operations and attained a gradual recovery of the business however in the months of March and April they faced a 30% increase in fuel costs coupled with a decrease in passenger load factors. Nationwide's already critical cash-flow meant operations were no longer sustainable without external, third party finance. An effort to sell 51% of the airline that Spring had failed, and as a result management decided to voluntarily cease all flight operations.
By May, 2008 liquidation proceedings were already in progress. December 2008 saw the first ever auction of Boeing aircraft in South Africa
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