 The company filed for bankruptcy in October 1986 . At the time it had NOK 29 million in debt , while its assets were three Twin Otters with an estimated value of NOK 21 million . At the time , one plane was on lease to the national airline of Portugal ( TAP ) , flying scheduled operations on the archipelago of Madeira . The largest creditors were Sparebanken Nord , who was owed 13 million and had collateral in two aircraft , Sparebanken Nordland , who were owed NOK 11 million and had collateral in one aircraft , and Kredittkassen / Fiskernes Bank , who were owed NOK 1 @.@ 9 million . The banks estimated they had lost NOK 8 million on the venture . 
