The year 2023 witnessed fewer collapses of airlines across the globe, than we may have seen previously. The industry is, on the whole, doing very well financially with record numbers of passengers paying higher fares than in the past. From the heart of Mexico to the landscapes of Gangwon State in South Korea or Tahiti in the Pacific, each collapse tells a unique story of challenges and financial woes.

• Mexico
• November 1997-February 2023 – operating for 35 years.
• A Mexican airline
• ATR turboprops
• Ceased operations due to the inability to renegotiate outstanding debts, leading to insolvency.

• Flag carrier airline for The Republic of Moldova
•  January 1993 to May 2023 (30 years)
• Eight aircraft to 27 destinations from the country’s capital Chișinău
• In October 2018 Air Moldova was privatised, with Romanian airline Blue Air taking control along with some minority Moldovan investors. There was significant angst and suspicion about that move. Blue Air collapsed in 2022
• Facing competition from FlyOne and Wizz Air, they “temporarily” suspended operations in April until September 2023 for restructuring. All planes were returned at that point. The airline ceased operations shortly after that and lost its operators certificate in August. Senior management were summonsed to court.

• Canada, British Columbian commuter carrier
•  February 2020 to January 2023
• Operated seven cities in British Columbia from Vancouver
• Four Piper Navajo Chieftains
• Commenced by signing economic development partnerships with towns and cities across British Columbia. In December 2021, Ord Mountain Resources (OMR) Corporation acquired Cascadia Air’s parent
• Closed down due to “higher overall costs that …made it unsustainable”. Relying on economic partnership model to keep flying is never enough to sustain an airline

• United Kingdom
• April 2022 to January 2023 using the brand name of the previous FlyBe but not connected
• Birmingham, UK airport to 17 destinations in France, Switzerland and UK
• Eight de Havilland Canada Dash 8 Q400
• Many of us had very fond memories of the FlyBE that operated from 1979 to 2020. So much so that investors bought the brand name in 2020.
• The airline struggled through all of its history, losing between four and five million pounds every month. It kept cancelling flights including their famous suspension of operations from Belfast to the Isle of Man, 30 minutes before the first plane was due to take off. Aer Lingus took on some of the Flybe destinations. You need to have more than a good brand to save an airline including cash and operational know-how. Has any airline that has revived a brand name survived? Compass, Eastern, People’s Express have all shown brand revivals don’t work.

This one is interesting because the airline shut down before it even started flying! It was our last closure for 2023!

• French Polynesia (Papatee)
• November 2020 to 31 December 2023
• The airline had planned to connect Fiji, New Caledonia, Samoa and Wallis & Futuna with Tahiti.
• Planned to launch operations two A220-100s
• The airline had earlier been called Air Corail and then WF Aviation before settling on Coralway
• Obtained its Air Transport License in November, 2020 and planned to launch in June, 2021. It rescheduled its launch multiple times.
• In August, the owner offered the “airline” for sale and was unable to obtain a serious buyer. Announced on its Facebook page, that it was abandoning its plans

• South Korea,-Gangwon State, the least populated province in the country located in the northeast and adjacent to North Korea
• April 2019 to November 2023 (4 years 7 months)
• Seven destinations in Japan, Philippines, South Korea, Taiwan and Vietname
• Five 737-800s and one A330
• Originally established as Fly Yangyang, it signed an agreement with the Gangwon State government
• By June, 2020, it was in financial difficulties due to the restrictions on travel as a result of the COVD-19 pandemic. In December 2020 it was effectively bailed out by the Gangwon State. It limped through to May 2023 when it suspended operations. Following that, its AOC was suspended and aircraft returned. An auction was held for new owners of the airline with three parties submitting bids. So, they may yet return?

• Norway
• June 2021 to January 2023 (2.5 years)
• Oslo, Norway to 30 destinations in 14 countries
•  Fleet of 12 Boeing 737 aircraft (six 737-800 and six 737 MAX)
• A group of seasoned Scandinavian aviation professionals, many of whom contributed significantly to Norwegian’s rapid growth era, envisioned the creation of a new budget airline for Norway. They included Erik G. Braathen 2020, the former CEO of Braathens and Norwegian
• By October 2022, they were in severe trouble and reduced their schedule dramatically, released half their planes to another airline and sought a new investor. That deal collapsed due to liquidity problems, ending its short-lived existence.

• India-Mumbai
• November 2005 to May 2023
•  One of the largest fleets in India, with a fleet of 53 A320-family aircraft.
• It started as GoAir and grew slowly focussing on profitability over market share. British Airways was interested in the airline and they considered a merger with Spicejet. By 2021, it was the fourth-largest airline in India, changed its name to Gofirst and planned an IPO.
• In 2023, they cancelled multiple flights. GoFirst blamed Pratt & Whitney for faults with their engines and sued the engine maker. They stopped all operations due to financial challenges.

• Iceland
• June 2022 to May 2023
• One Airbus 319
• Three European destinations from Akureyri, in Northern Iceland.
• Started with the aim of bringing tourists to northern Iceland from other parts of Europe. This was a “virtual airline” that subcontracted the actual flying operations to HiFly Malta.
• In April, Niceair lost access to their only plane with Nice blaming HiFly and vice versa. They temporarily cancelled flights while looking for a new plane. Failing to do so meant bankruptcy and the end of the airline.

• Sweden
• November 1997 to October 2023 (almost 26 years)
• Two Airbus A321neo
• Leisure charter operator based in Sweden providing flights on behalf of Apollo, a Swedish travel agency
• Closed down after losing its contract with Apollo

• Country: United States- Lincon, Nebraska
• June to August, 2023 (two months- our shortest-lived airline this year)
• Red Way had no aircraft. It chartered Global Crossing Airlines, to operate its flights. They used Airbus A320 and Airbus A321 planes branded “Global X”
• Seven US Destinations
• Virtual Airline started with a three-million-dollar American Rescue Plan Act grant through the City of Lincoln.
• Undercapitalised, the airline quickly realised its future was bleak and closed down. They are now being investigated by the Nebraska State Auditor’s Office for the use of those ARPA funds

• Colombia
• February 2022 to March 2023 (one year)
•  Six Airbus A320 aircraft.
• Ten destinations across Colombia
• Formed as a low-cost airline by the founder and former CEO of Viva Air Colombia
• It entered a very competitive market. Soon the regulator was warning that the airline was facing severe liquidity problems, which Ultra denied. The airline had two aircraft grounded, which it claimed was because of maintenance issues. On its last day, it claimed it had secured new funding.

• Colombia/Peru
• May 2009 to February 2023- almost 14 years
• Temporarily suspended all flights. A potential acquisition by Avianca was nixed.
• Ten Airbus Aircraft
• 25 Destinations across South America
• Backed by Irelandia, a low-cost airline developer led by one of the founders of Ryanair
• Reason for Closure: Facing financial challenges and regulatory scrutiny. Temporarily suspended all flights.

Airlines that merged

Buta Airways (Azerbaijan), was a subsidiary of Azerbaijan Airlines, set up in 2017. It merged with its parent and is now AZAL.

Swoop (Canada) was set up by Westjet in 2017 and brought back in-house in October 2023

Thai Smile, was a wholly-owned subsidiary of Thai Airways International and the only airline, on this list, that I have flown. Set up in 2011 as Thai Wings, it became Thai Smile in 2013 following a public naming competition. Was re-integrated with its parent on 31 December 2023.

As we reflect on the airline collapses of 2023, the common thread weaving through these narratives is the fragility of success in the aviation sector. These tales of missteps, ill-conceived strategies, and flawed execution remind us that where survival demands more than just a brand legacy or some planes – it demands realistic plans, plenty of cash, operational nous and wise navigation through a series of options in a very combative environment.

Related Posts

• Goodbye -The airlines that vanished in 2018
• Goodbye -The airlines that vanished in 2017
• The airlines that vanished in 2016
• The airlines that vanished in 2015
• The airlines that failed in 2014
• Airlines that vanished in 2013
• The Airlines that Vanished in 2012