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
Read more about this topic: Nationwide Airlines
Famous quotes containing the words halt and/or operations:
“Someone is always at my elbow reminding me that I am the grand-daughter of slaves. It fails to register depression with me. Slavery is sixty years in the past. The operation was successful and the patient is doing well, thank you. The terrible struggle that made me an American out of a potential slave said “On the line!” The Reconstruction said “Go!” I am off to a flying start and I must not halt in the stretch to look behind and weep.”
—Zora Neale Hurston (1891–1960)
“It may seem strange that any road through such a wilderness should be passable, even in winter, when the snow is three or four feet deep, but at that season, wherever lumbering operations are actively carried on, teams are continually passing on the single track, and it becomes as smooth almost as a railway.”
—Henry David Thoreau (1817–1862)