- Aviation Blog
- May 14, 2023
Recent Airline Collapse Reasons
Wow Air
Icelandic ultra-low-cost carrier Wow Air announced on March 2019 that it has ceased operations. Reykjavik-based Wow Air suffered through a challenging 2018 which culminated with the airline slashing 111 jobs and cutting its fleet size by half.
Unfortunately, the carrier’s decision to acquire wide-body Airbus A330-300 jetliners and a move away from its traditional ultra-low-cost business model proved to be a mistake, Wow Air founder and CEO Skuli Mogensen told in start of same year.
Primera Air: defunct October 2018.
Primera Air was a subsidiary of Icelandic tourism company Primera Travel Group. Primera Air had been in the process of expanding into the low-cost inter trans-Atlantic airline with a fleet of Airbus A321neo aircraft. The carrier ceased operations on October 2, 2018.
Cobalt Airways: defunct October 2018.
Cypress-based Cobalt Air was founded in late 2015 following the shutdown of the country’s national airline Cypress Airways earlier that year. Unfortunately, the airline could not sustain its operation financially and shut down on October 17, 2018.
Flybmi/British Midland Regional: defunct February 2019.
Founded in 1987, Flybmi was once the regional arms of British Midland International. The airline was sold off in 2012 following BMI’s acquisition by British Airways. Flybmi shut down on February 16, 2019. The airline cited rising spikes in fuels costs and rising carbon costs due to Brexit as contributing causes of its demise.
Germania: defunct February 2019.
Founded in 1978, Berlin-based Germania offered by charter and scheduled passenger service. The airline ceased operations on February 5, 2019, citing financial insolvency due to high fuel prices and the devaluation of the Euro against the US dollar.