Royal Air Cambodge went Bankrupt
Royal Air Cambodge (RAC), the Cambodia's national airline, is going bankrupt and stopped all its flying operation on October 16, 2001. The Cambodian government owns 60% share of this airline whereas the Naluri, a Malaysian company (formerly known as Malaysian Helicopter Service) - owns the rest 40%. RAC leased its planes from the Malaysian Airline, since its birth 7 years ago. Due to its debt-ridden situation, RAC fails to pay the rental fees so its planes have been repossessed. It is estimated that RAC owes Malaysian Airline about US$ 30 million. An airline official said that the issued air tickets will be reimbursed, but this information has not been confirmed.
RAC used to be a major player in flying between Phnom Penh and Siem Reap; the latter of which houses the world's famous Angkor Wat and other Khmer complex. Before its closure, RAC operates about 3-4 flights a day on this domestic route. Currently, the Siem Reap Airways (FT) is the sole carrier, operating two flights a day from Phnom Penh to Siem Reap and return.
RAC used to be a major player in flying between Phnom Penh and Siem Reap; the latter of which houses the world's famous Angkor Wat and other Khmer complex. Before its closure, RAC operates about 3-4 flights a day on this domestic route. Currently, the Siem Reap Airways (FT) is the sole carrier, operating two flights a day from Phnom Penh to Siem Reap and return.
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