Insolvent Swiss carrier Hello will be finally wound down after attempts to find a new investor fell through.
The Basle-based charter and wet-lease airline suspended all flights on 21 October after declaring bankruptcy. But the company tried in the meantime to secure fresh capital from a potential new investor.
The airline revealed in a statement today, however, that it had been unsuccessful in finding an investor who could secure its operations in the long-term and that bankruptcy proceedings would now go ahead as a result.
The company had been under bankruptcy protection for the negotiations. But this can no longer be maintained without the prospect of a new investor.