2023 proving to be a tough year for airlines as many file for bankruptcy
The year 2023 has come as tough year for the airlines industry across the world. Even as India’s low-cost carrier GoFirst Airlines filed for bankruptcy in May this year and closed operation, several other airlines across the globe have either announced ceassation of operations since the beginning of the year. Here’s a list of a few:
Flybe was a regional airline that operated flights in the United Kingdom and Ireland. The company filed for bankruptcy In Januray 2023. The bankruptcy filing was the result of a number of factors, including the COVID-19 pandemic and the rising cost of fuel.
Flybe was founded in 1979 and began operations in 1980. The company quickly became a popular option for travelers in the United Kingdom and Ireland. However, the COVID-19 pandemic caused a sharp decline in travel demand, and Flybe was forced to suspend operations in March 2020.
The company attempted to resume operations in July 2021, but it was unable to overcome the financial challenges caused by the pandemic. Flybe filed for bankruptcy in January 2023 and ceased all operations.
Flyr
Flyr is a Norwegian low-cost airline that filed for bankruptcy on February 14, 2023. The bankruptcy filing was the result of a number of factors, including the COVID-19 pandemic and the rising cost of fuel.
Flyr was founded in 2021 and began operations in June 2021. The company quickly became a popular option for travelers in Norway. However, the COVID-19 pandemic caused a sharp decline in travel demand, and Flyr was forced to suspend operations in December 2021.
The company attempted to resume operations in February 2022, but it was unable to overcome the financial challenges caused by the pandemic. Flyr filed for bankruptcy in February 2023 and ceased all operations.
Novair
Novair, a Swedish low-cost airline, filed for bankruptcy in March 2023. The airline had only been operating for a few months, and it had been struggling to compete with other low-cost airlines in Europe. Novair operated a fleet of 3 Airbus A320neo aircraft.
Viva Air
Viva Air, a Colombian low-cost airline, filed for bankruptcy in January 2023. The airline had been struggling financially for some time, and the bankruptcy filing was seen as a last-ditch effort to avoid liquidation. Viva Air operated a fleet of 14 Airbus A320neo aircraft.
Aeromar
Aeromar, a Mexican regional airline, shut operations in February 2023. The airline had been struggling financially for some time, and the bankruptcy filing was seen as a last-ditch effort to avoid liquidation. Aeromar operated a fleet of 11 Saab 340 aircraft.
Ultra Air
Ultra Air, a Colombian low-cost airline, shut operations in March 2023. The airline had only been operating for a year, and it had been struggling to compete with other low-cost airlines in the region. Ultra Air operated a fleet of 6 Boeing 737 MAX aircraft.
Also Read: GoFirst files for insolvency
