Norway's Flyr Joins This List of Airline Bankruptcies and Failures Since Pandemic
Skift Take
Key Points
- Flyr announced its bankruptcy due to insufficient funding and weak financial markets.
- The airline industry has seen numerous bankruptcies and operational cessations since the pandemic began.
- The list includes notable airlines such as Flybe, Virgin Australia, and Avianca.
Summary
Norwegian airline Flyr has announced its bankruptcy after failing to secure necessary funding for its operations, citing the impact of weak financial markets and uncertain air travel demand. Flyr's collapse adds to the growing list of airlines that have either filed for bankruptcy or ceased operations since the onset of the pandemic, including Flybe, Virgin Australia, and Avianca. The aviation sector continues to face significant challenges due to the ongoing effects of the global health crisis.
Norwegian airline Flyr announced on Tuesday it would file for bankruptcy after failing to raise the money it needed for its operations, becoming the latest aviation casualty since the start of the pandemic.
"There is no longer a realistic opportunity to achieve a solution for the short-term liquidity situation," the company said in a statement.
"All departures and ticket sales have as a consequence been cancelled."
Flyr, which launched in June 2021, acknowledged on Monday that weak financial markets and uncertainty about the demand for air travel had prevented the company from raising more cash. The company had announced last October it would drastically reduce its winter schedule.
Here is a list of other airline failures and bankruptcies since the start of the pandemic.
| Airline | What Happened | Date |
|---|---|---|
| Flybe (UK) | Files for Bankruptcy | Mar 2020 |
| Trans States (U.S.) | Ceased Operations | Apr 2020 |
| Compass (U.S.) | Ceased Operations | Apr 2020 |
| CityJet (Ireland) | Files for Bankruptcy | Apr 2020 |
| Virgin Austraila | Files for Bankruptcy | Apr 2020 |
| Air Mauritius | Files for Bankruptcy | Apr 2020 |
| Avianca (Colombia) | Files for Bankruptcy | May 2020 |
| Aeromexico | Files for Bankruptcy | Jun 2020 |
| Thai Airways | Files for Bankruptcy | Sep 2020 |
| TAME (Ecuador) | LIquidation | May 2020 |
| LATAM (Chile) | Files for Bankruptcy | May 2020 |
| SunExpress Deustchland | Announces Ceasing Operations | Jun 2020 |
| One Airlines (Chile) | Ceased Operations | Jun 2020 |
| NokScoot (Thaiand) | Ceases Operations | Jun 2020 |
| LIAT (Antigua) | Ceases Most Operations | Jun 2020 |
| Jet Time (Denmark) | Files for Bankruptcy | Jul 2020 |
| Virgin Atlantic (UK) | Files for Bankruptcy | Aug 2020 |
| AirAsia Japan | Ceases Operations | Oct 2020 |
| Cathay Dragon (Hong Kong) | Ceases Operations | Oct 2020 |
| Ravn Air (U.S.) | Files for Bankruptcy | Oct 2020 |
| Norwegian Air | Files for Bankruptcy | Nov 2020 |
| Czech Airlines | Files for Bankruptcy | Mar 2021 |
| InterJet (Mexico) | Files for Bankruptcy | Apr 2021 |
| Philippine Airlines | Files for Bankruptcy | Sep 2021 |
| Blue Panorama (Italy) | Ceased Operations | Oct 2021 |
| Comair/Kulula (South Africa) | Ceased Operations | Jun 2022 |
| SAS | Files for Bankruptcy | Jul 2022 |
| Flybe | Ceases Operations | Jan 2023 |
| Flyr | Files for Bankruptcy | Jan 2023 |
Photo Credit: Norwegian airline Flyr announced it would file for bankruptcy on Tuesday. Wikimedia Commons / NewYard25
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