'Whip-round' Austrian airline files for bankruptcy
A tiny Austrian airline that allegedly last month forced passengers into a whip-round in order to complete their journey from India to Birmingham filed for bankruptcy on Wednesday.
Comtel-Air, majority-owned by Indian businessman Bhupinder Kandra, has debts of 1.2 million euros ($1.6 million) and also faces damages claims for delayed and cancelled flights, the Austrian creditors' protection agency KSV said.
"The fate of the company is currently uncertain. If no investor is found soon, then the firm will ... have to be closed down very soon," KSV said.
© 2011 AFP