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VLM files for bankruptcy

VLM Airlines has ceased operations after filing for bankruptcy.

"We are sorry to have to inform you that VLM Airlines NV has filed for bankruptcy on Wednesday 22nd June 2016. All flights are cancelled with immediate effect," the Belgian regional carrier says in a statement posted on its website.

VLM had in May applied to an Antwerp court for bankruptcy protection, presenting a turnaround plan that envisaged a return to profit in mid-2017. The court agreed to temporary protection.

The Antwerp-based Fokker 50 operator, which was founded in 1993, made a loss of €13 million ($15 million) last year.

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