PARIS: French airline Aigle Azur has closed down after it failed to find new investors, leaving 1,150 employees out of work.

France’s second-biggest airline, which was mostly operating between France and Algeria, had filed for bankruptcy earlier this month and canceled all its flights.

A French commercial court on Friday ordered the company’s closure due to the lack of a sustainable offer from bidders.

Chinese conglomerate HNA Group is the company’s largest shareholder with a 49% stake.

Aigle Azur transported about 1.9 million passengers in 2018. It also had operated routes to Brazil, China, Russia and other countries in recent years.

(Agencies)