Blue Wings grounded

GERMANY’S Blue Wings has ceased operations following a financial dispute with shareholder Alexander Lebedev (near right).The Düsseldorf-based company stopped flying on Wednesday shortly before the aviation authorities revoked its operating licence.A spokesperson for the company said that the problems arose due to a lack of funds from shareholders. Lebedev, an ex-KGB agent and now billionaire who owns a third of Aeroflot, rescued Blue Wings last year when it had previously lost its license.Lebedev’s NRK investment group said in a statement: “Should the conditions of transparency and management reinforcement be met, NRK is ready to provide Blue Wings with necessary financial help.”

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