|
|
14 Dec 2001
A spokesperson for the company told AccountancyAge.com: 'British World Airlines went into receivership at 12:30pm today.'
The company said no administrator had yet been appointed and would not comment on the cause of the airline's collapse, although reports in the media suggest financial problems at the company had worsened following the 11 September attacks in America.
According to news website Ananova.com, 320 employees are set to loose their jobs.
BWA, based in Southend airport in Essex, operated a fleet of 10 leased jet and turboprop aircraft and provided aircraft to, among others, British Airways, and low-cost airlines EasyJet and Go.
All the aircraft were returned to their bases after completing their journeys and no passengers are believed to have been stranded as a result of BWA's collapse.
So far this year Belgian airline Sabena, Australian carrier Ansett and Canada's second biggest airline, Canada 3000 have have all collapsed due to mounting debts and the after effects of 11 September.
Links
Why the airline industry is like the weather
Air travel in transition in turbulent new world
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment