Airline Post

Airline that went bankrupt in 2009

by Dave on 05/01/10 at 11:22 am

2009 has been a difficult year for airlines all over the world. Many had to reduse their fleet or crew, while others had no other option than declaring their bankrupcy. Here’s a list of airlines that ceased to exist this year. Australia seems to take the trophy for most failed airline companies in 2009.

1. Flyglobespan (Scotland) – went bankrupt in Dec. 16, 2009 due to liquidity shortfail.
2. Indochina Airlines (Vietnam) – ceased operations in Nov. 25, 2009; it is still possible to resume services by Jan. 2010, otherwise it will lose its license.
3. PB Air (Thailand) – no longer functioning since Nov. 2009.
4. SkyEurope (Slovakia) – went bankrupt in Sep. 1, 2009 due to the global economic crisis, as fell as a decline in passenger numbers and liquidity shortfail.
5. East Star Airlines (China) – grounded on Mar. 15, declared bankrupt on Aug. 27 with debt of over USD110 million.
6. Silver Air (UAE) – suspended operations on Aug. 3rd due to restructuring
7. MyAir (Italy) – grounded on July 24th by Italy’s Civil Aviation Authority due to unreliable services and failure to pay its taxes.
8. Jet America (USA) – no longer operating since July 18th due to unviable business model.
9. KDAvia (Russia) – grounded on Sep. 4th due to debt of over EUR221 million and revoked certification.
10. Bellview Airlines (Nigeria) – ceased to operate in Oct. and grounded by the Nigerian Civil Aviation but plans to resume service in December this year.
11. Aviacsa (Mexico) – suspended in July 7th by the Mexican Government due to unpaid debt of USD22 million.
12. Qiantang Airlines (China) – stopped service due to the global economic crisis and shortage of capital
13. Megantara Air (Indonesia) – no longer operating since May 6th due to financial issues.
14. Air Fiji (Fiji) – stopped operating on May 30 due to financial difficulties and following other suspensions.
15. OzJet (Australia) – stopped service on May 20 being under credit risk.
16. KrasAir (Russia) – ceased to function on July 6th after being declared bankrupt and under high debt.
17. Linus Airways (Indonesia) – banned by EU due to safety concerns, stopped operating on April 27 due to financial difficulties.
18. Cameroon Airlines (Cameroon) – Cameroon’s national airline is no longer operating since March; the company’s former administration was charged with embezzling over USDD250 million.
19. Centralwings (Poland) – Closed on April for being unprofitable.
20. Kayala Airlines (Saudi Arabia) – declared bankrupt on April 1st after confronting with high cost coupled with low demand.
21. MacAir (Australia) – Stopped flying on January 29 due to funding shortage.
22. Sky AirWorld (Australia) – No longer flies since February 2009 due to the current economic crisis.
23. flyLAL (Lithuania) – Stopped on January 17th; it was unable to satisfy the creditor’s demand and struggled with low demand over European winter and record oil prices.
24. Zambian Airways (Zambia) – Stopped on January 10 due to economical conditions and high fuel prices.
25. Caribair (Dominican Republic) – Suspended operations on Jan. 20 due to “operational irregularities” – the company was hiding commercial operations as private services aircraft.
26. BlueWings (Germany) – Stopped flying on March 31st after its operational approval being revoked by the Germany’s Federal Aviation Agency; BlueWings apparently did not have enough funds to ensure long-term viability.

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