Denmark's Sterling Airlines, owned by Iceland's Northern Travel Holding, cancelled all flights and filed for bankruptcy yesterday, blaming decreasing demand, rapidly rising fuel prices and the Iceland financial crisis for its collapse. The Copenhagen-based LCC, which operated 24 737NGs and three 737 Classics, all leased, said shareholders were committed financially into 2009 and had injected DKK444.5 million ($74.8 million) over the summer to fund restructuring. But "over a 3-4 week period, ...

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