[citation needed] The company leased aircraft to Libyan Arab Airlines and Khalifa Airways.

[4] Prior to the collapse, an 18-month contract was signed in 2000 to help set up a new airline in Kosovo.

[5] The collapse was blamed on the adverse effects of the Kosovo war, a failed $18 million investment in American airline TransMeridian and losses of $14 million incurred by TransAer's German and Greek charter airline business.

The business failed with outstanding debts of £30 million and made 450 employees redundant.

[6] Two of their aircraft were impounded in Ireland by Aer Rianta the day after the airline appointed a liquidator, due to TransAer's failure to pay landing and handling fees amounting to over £200,000.