Air Paradise International, a privately owned leisure carrier based on Indonesia’s resort island of Bali, last week suspended operations due to poor market conditions.
Air Paradise chairman and owner Kadek Wiranatha says the airline was forced to ground its aircraft following the “devastating effects of the recent terrorist attacks”.
Wiranatha adds: “The bombings have devastated the Balinese tourism industry including Air Paradise.”
Bali was hit by terrorist attacks in October 2002 and October 2005.
Air Paradise has appointed “corporate recovery specialists” Korda Mentha and claims it is “not presently in a position to discharge creditors’ claims”. KordMentha is a Melbourne-based firm which handled Ansett Australia’s bankruptcy.
Source: Flight International
