2 October 2001 saw an increased necessity for strong liquidity, as all suppliers insisted on cash payments of outstanding invoices following a request for payment delay announced the day before. The company's cash reserves filed on that day were barely sufficient to carry out the first morning flights. During the morning, fuel suppliers refused to fuel the waiting aircraft. At 15:45 CEST, CEO Mario Corti announced a cessation of flight operations due to the security risks caused by the crossing of the Flight Duty Regulations. This led to the cancellation of over 230 flights, and thousands of passengers, as well as flight crews, were stranded around the world. Flight crew corporate credit cards were blocked by the banks, with some hotels expelling the crew, and having them return home at their own expense. All tickets sold were voided.
2 October 2001 s,aw an increased necessity for strong liquidity, as all suppliers insisted on cash payments of outstanding invoices following a request for payment delay announced the day before. The company's cash reserves filed on that day were barely sufficient to carry out the first morning flights. During the morning, fuel suppliers refused to fuel the waiting aircraft. At 15:45 CEST, CEO Mario Corti announced a cessation of flight operations due to the security risks caused by the crossing of the Flight Duty Regulations. This led to the cancellation of over 230 flights, and thousands of pas,sengers, as well as flight crews, were stranded around the world. Flight crew corporate credit cards were blocked by the banks, with some hotels expelling the crew, and having them return home at their own expense. All tickets sold were voided.