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French airline Aigle Azur closes down, 1,150 out of work
France's Aigle Azur airlines plane is docked at a ramp in Baghdad, Iraq, Sunday, Oct. 31, 2010. The French airline has landed in Baghdad international airport, becoming one of the first passenger carriers to fly into the capital direct from western Europe since the Gulf War. (AP Photo/Karim Kadim)
The Associated Press
Published Saturday, September 28, 2019 7:00AM EDT
PARIS -- French airline Aigle Azur has closed down after it failed to find new investors, leaving 1,150 employees out of work.
France's second biggest airline, which was mostly operating between France and Algeria, had filed for bankruptcy earlier this month and cancelled all its flights.
A French commercial court on Friday ordered the company's closure due to the lack of a sustainable offer from bidders.
Chinese conglomerate HNA Group is the company's largest shareholder with a 49% stake.
Aigle Azur transported about 1.9 million passengers in 2018. It also had operated routes to Brazil, China, Russia and other countries in recent years.