French Aigle Azur Set to File for Bankruptcy

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Aigle Azur, the French airline founded 73 years ago, is about to file for bankruptcy. The airline has been placed in receivership and is open to offers from buyers. Even though the airline has entered severe turbulence, operations will continue.

Reportedly, such an outcome has followed a dispute with one of shareholders who attempted to establish himself as the airline’s leader. Also, the airline has been battling with financial problems for the recent period of time.

The deadline for the submissions of potential buyers is relatively short – less than a week. This is also due to financial issues as the airline makes all the efforts not to cease operations but is running out of operational cash fast.