Downturn grounds Slovakian budget carrier SkyEurope

SLOVAKIA's SkyEurope, which has never made a profit in six years of operation, has gone out of business, cancelling flights, or having them cancelled, between Bratislava, Prague and Paris, reports Agence France Presse.

When SkyEurope failed to meet financial obligations, Ruzyne Prague airport stopped its flights, stranding passengers. Failure to pay debts in Austria prompted Vienna airport to do the same in mid-August.

The airline said in July it had found an investor to rescue the troubled budget carrier after it entered bankruptcy protection in June, blaming the global downturn. It reduced its fleet from 15 Boeing 737s to five it flew last year having just added two new Boeing 737-300s in July.

(Source: www.schednet.com)