Astraeus Limited – a statement
21-Nov-2011 Astraeus Airlines (Astraeus Limited) has ceased operations with immediate effect. The board has resolved to make application to the High Court for the appointment of administrators today.
Hugh Parry, Chief Executive of Astraeus, said: "We battled hard to save Astraeus, but lower-than-expected levels of business during the summer of 2011, a lack of contracts for winter 2011-2012, and some extremely bad luck with a number of technical issues mean that we have no option but to cease all operations and put Astraeus Airlines in the hands of the administrators.
"Every effort has been made to ensure that any passengers affected already have or will be able to complete their journey.
"It is small comfort to those affected and impacted, I realise, but Astraeus comprised a fantastic team who did a fantastic job - quite possibly the best team in their aviation business sector."
Astraeus is a wholly-owned subsidiary of Eignarhaldsfelagid Fengur HF.