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Swedish budget airline FlyMe to file for bankruptcy

2 March 2007

Swedish budget airline FlyMe said Friday it would file for bankruptcy and seized operations immediately, affecting hundreds of passengers.

FlyMe Sweden AB had not been able to raise as much cash as it expected through a rights issue, the company said in a statement posted on its Web site. The airline started operations in 2004 and now has service from three Swedish cities to about a dozen European cities, including London, Nice and Prague.

source: International Herald Tribune

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