Sabena Boeing 747s with four-engined Airbus A340. After the liberalisation of the airline industry throughout Europe and the economic consequences of the Gulf War, the Belgian government, the main shareholder of the company, realized that Sabena had little chance of surviving on its own in this very competitive market, and began searching for a suitable partner. Sabena remained in a poor financial state, and year after year the Belgian government had to cover losses, however, it was however prevented from providing new funds due to EU State Aid rules. Around 1987, SAS tried to merge with the carrier, but the merger
Sun Country Airlines the summer of 2001. After fighting to stay operational by cutting flights, destinations and planes, the company closed on December 8, 2001. During bankruptcy, Sun Country lost almost all of its 727 fleet and four recently delivered 737 aircraft. Sun Country retained one 737 as well as its operating certificate. In the following months, a local group of investors organized as MN Airlines, LLC purchased the remaining assets in bankruptcy court and restarted the airline. The airline initially operated combined charter-scheduled services from Minneapolis to casinos in Laughlin, Nevada and gradually added more charter destinations as finances allowed. Sun Country