Air TransportBraathens International files for bankruptcy and suspends Airbus flights
Braathens International Airways, Swedish carrier established in 2022 for charter and ACMI flights, has filed for bankruptcy after failing to resolve liquidity challenges and secure additional funding for its transition to an all-turboprop fleet.
The airline immediately suspended all flights operated with five Airbus aircraft, impacting around 200 employees across Braathens International Airways AB and Braathens Crew AB.
Since its inception, more than 70 million euros—equivalent to over 300 million Swedish kronor—were invested in the Airbus division, but the business did not achieve profitability.
“It is with great sadness that the Board of Directors tonight has been forced to file for bankruptcy for the Airbus business. Unfortunately, the funding that we have tried to get in place for a controlled phase-out has not been achieved and I understand that those affected are sad, shocked and disappointed,” said Per G. Braathen, Chairman of the Board and majority owner of Braathens.
The decision follows unsuccessful efforts to finance the migration to ATR 72-600 turboprops, as well as higher-than-expected startup and operating costs. Additionally, continued decline in demand for charter flights from tour operators rendered the Airbus operations unsustainable.
Braathens International’s Airbus fleet consists of two A319 e three A320 and had focused on offering ACMI and charter services, a segment that has faced increased competition and shifting demand in the Scandinavian market.
The remaining Braathens Regional Airlines operations, which utilize ATR 72-600 turboprops for regional routes, are not affected and will continue as planned.
The company will begin union negotiations regarding administrative redundancies linked to the Airbus closure. Management stated that efforts are now directed at protecting viable business segments and maintaining existing agreements, with the aim of securing jobs within the remaining corporate structure.
The bankruptcy of Braathens’ international division comes the day after the collapse of PLAY Airlines, an Icelandic low-cost airline.
About the Author
Ricardo Meier
Creator of the website that started in 1996 as a magazine. He also writes on Brazilian websites AUTOO, MOTOO and MetrôCPTM.
