Manufacturing Industry
Suriname's ITA to auction aircraft
Airline Industry Information, Feb 12, 2002
AIRLINE INDUSTRY INFORMATION-(C)1997-2002 M2 COMMUNICATIONS LTD
Surinamese airline ITA, which abruptly stopped operations last year, plans to auction off its aircraft in a bid to pay its USD2m debt.
According to ITA's chairman, the airline is unable to pay its debt as the Surinamese government pulled its operations licence, leaving it unable to make any money. The government removed ITA's licence in September 2001, shortly after the airline stopped flying and closed its offices, reportedly stranding 800 passengers in Suriname and 300 in the Netherlands for up to three weeks.
ITA will sell off two Cessna aircraft, one Antonov aircraft and one helicopter, reported Dow Jones.
((Comments on this story may be sent to aii.feedback@m2.com))
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