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Turkish-Cypriot Airlines Goes Bust

kthyTurkish-Cypriot Airlines (KTHY) has declared bankruptcy, and will be completely dissolved, said WorldBulletin.net.

The company sought bankruptcy in a Turkish-Cypriot court on Wednesday, and will be replaced by another airline established by the Turkish-Cypriot administration and Turkey's government.

KTHY went under after accumulating around 40 million dollars in debt.

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