Air Finland ceases operations

Air Finland (OF) ceased operations Tuesday, suspending all flights and leaving 1,000 passengers stranded, Finnish news agency STT reported.

OF CEO Mika Helenius said high fuel prices, overcapacity and a shortage of capital attributed to the decision, according to Finnish national broadcaster YLE.

The privately owned company, which began operations in 2002, served mainly leisure destinations from Finland to Turkey, Greece, Spain and Dubai. Its fleet comprised four Boeing 757-200s.

OF joins European carriers Malev, Spanair, Cirrus, Cimber Sterling, Skyway and Central Connect Airlines from the Czech Republic, which all ceased operations this year