Due to the further deterioration of the economic climate, the events of 11 September 2001, social unrest, an extremely unfavourable cost structure due to prior management decisions and, last but not least, the withdrawal of the SAir Group at the end of September 2001 from Sabena, the Belgian airline had to file for bankruptcy. The oldest carrier in Europe at that time was declared bankrupt on 7 November 2001 and ceased to exist, at the age of 78 years old. Thousands of jobs (directly and indirectly) were lost (some estimates suggest a figure of 17 000) and, as a result of the bankruptcy the economic growth rate of Belgium was reduced by 0.2 per cent.