Danish low-cost airline Cimber Sterling filed for bankruptcy Thursday, as its owners decided to stop financial support to the company.
"Cimber Sterling's owners no longer wish to financially support the company. Therefore, the company board has decided to file for bankruptcy," the company said in a statement to the Copenhagen Stock Exchange.
The bankruptcy was filed at the High Court in Soenderborg, southern Denmark, it added.
According to Danish financial newspaper Boersen, the airlines latest financial statement showed it had an operating loss of 81.5 million Danish kroner (14.4 million U.S. dollars) and negative equity of 82.5 million kroner (14.6 million dollars).
For more: Denmark's Cimber Sterling Airline Files for Bankruptcy
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