a new company, Nye Partnair A/S. It soon reverted to the former name. After about a year the company was again running without a deficit and Helikopter Service sold its shares to the brothers Terje and Rolf Thoresen. From then the company started losing money and had a poor financial result in 1988. That year the airline operated three Convairs and six Super King Airs. In terms of revenue, it was the fifth-largest airline in Norway, with 80 employees. Parnair was one of several companies discussing a take-over of Norsk Air in 1988. The following year Partnair bought two smaller airlines, Fjellfly/Viking Air based in Kristiansand and 52 percent of Fonnafly based in Stord. Accident and bankruptcy Partnair Flight 394 crashed in Skagerrak near Hirtshals on 8 September 1989, killing all 55 people on board. A central cause of the accident turned out to be the use of unapproved aircraft parts, specifically unapproved bolts fastening the vertical stabilizer to the fuselage. The findings spurred international attention to the issue of unapproved parts. Immediately after the accident Partnair grounded the other two Convairs and laid off 17 of its 45 employees. The King Air fleet remained in operation. The company had a poor financial situation before the accident, which was severely aggravated with the accident. By October 1989 the airline was attempting to sell the Convairs. The company filed for bankruptcy on 11 October 1989. At the time the airline had few assets and about 15 to 20 million kroner in debt. All the aircraft were at the time leased. The assets from Partnair were taken over by a new company, Nye Partnair A/S ("New Partnair"), which was owned by the Thorsen brothers along with Jostein Nerhus and Eirik M. Eide. Nye Partnair was incorporated in January 1990 and bought large portions of the estate in bankruptcy. This gave it an initial fleet of four Beechcraft Super King Air and one Beechcraft King Air. Nye Partnair was initially based at Haugesund Airport, Karmøy, but relocated to Stord Airport, Sørstokken in May 1991 and took the name Air Stord. The airline remained in business until 19 February 1999. Fleet The following is a list of aircraft operated by Paralift and Partnair. It contains the model, the accumulated number of aircraft operated (which may exceed the peak county), the year built, the year the type first entered service with the airline, and the