The Budget Airline Primera Air Goes Bankrupt

Primera Air Goes Bankrupt

Primera Air Goes Bankrupt

Primera Air closed down on Monday after running out of finances, the airline which was Icelandic owned but had Danish and Latvian management offices, and operations in Stansted and Birmingham.

The owner of Primera Air Mr Ingólfsson who went under on Monday has said that the situation is “immensely disappointing.” “The most painful part is seeing all this immense groundwork that’s been laid just disappear, for all the good staff who have been working at it for so long,” he said. He stated that it was clear on Monday how things would turn out as the company had been seeking lead investors and sought to issue bonds amounting to 40 million Euros to recapitalise debt.

“In the last few months the airline market has struggled, oil prices have doubled in the last 12 months and price cuts on the markets have been much faster than people expected.” The budget airline has blamed late deliveries of aircraft from Airbus to be linked to the failure.

What To Do If You Have A Flight Booked

All Primera flights have been cancelled so you are advised not to travel to the airport. The Civil Aviation Authority (CAA) and Stansted have advised customers to contact the airline directly, but according to a statement on its website, Primera Air can no longer be contacted by email or phone.

Will There Be Rescue Flights?

The CAA stated that it will not be bringing UK passengers stranded abroad home because Primera Air was not part of its Atol protection scheme. When the Monarch collapsed in October 2017, the CAA brought home thousands of customers at no extra cost.

Image courtesy of Anna Zvereva