Cambodge went Bankrupt
Issued: 16 October 2001
Royal Air Cambodge (RAC), the Cambodia's national airline, is going bankrupt and stopped all its flying operation on October 16, 2001.
The Cambodian government owns 60% share of this airline whereas the Naluri, a Malaysian company (formerly known as Malaysian Helicopter Service) - owns the rest 40%.
RAC leased its planes from the Malaysian Airline, since its birth 7 years ago. Due to its debt-ridden situation, RAC fails to pay the rental fees so its planes have been repossessed. It is estimated that RAC owes Malaysian Airline about US$ 30 million.
An airline official said that the issued air tickets will be reimbursed, but this information has not been confirmed.
RAC used to be a major player in flying between Phnom Penh and Siem Reap; the latter of which houses the world's famous Angkor Wat and other Khmer complex. Before its closure, RAC operates about 3-4 flights a day on this domestic route. Currently, the Siem Reap Airways (FT) is the sole carrier, operating two flights a day from Phnom Penh to Siem Reap and return.
Contact us: email@example.com
Cambodia Tours | Flights | Cambodia Hotels | Travel Information | Khmer Civilization
Related Sites | About us | Contents