Gatwick based Astraeus in administration
22.11.11
Gatwick based Astraeus Airlines, whose pilots include Iron Maiden singer Bruce Dickinson, was placed into administration yesterday and ceased operations. The airline, which is owned by Icelandic travel group Eignarhaldsfelagid Fengur HF, has 10 aircraft and operated as a stand-alone business.
In 2008 Astraeus started to lease the planes to other carriers such as BMI and Iceland Express, providing extra capacity when needed. Astraeus chief executive Hugh Parry said: ‘Lower-than-expected levels of business during the summer of 2011, a lack of contracts for winter 2011-2012 and some extremely bad luck with a number of technical issues mean that we have no option but to cease all operations and put Astraeus Airlines in the hands of the administrators.’ Up to 150 jobs will be last at the firm.
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