The aviation industry continued to navigate turbulence in 2024, with 14 airlines ceasing operations due to financial struggles and evolving market dynamics. Several carriers restructured or rebranded in efforts to survive an increasingly competitive landscape.

Airlines That Ceased Operations

Bonza (Australia)
Bonza, a low-cost carrier aimed at serving underserved Australian markets, ceased operations in mid-2024. Despite support from 777 Partners and an initial fleet of Boeing 737s, the airline struggled to gain sufficient market traction.

CSA (Czech Republic)
A century-old airline, CSA operated with a reduced fleet of two Airbus A320s after facing a near-collapse in 2021 following the COVID-19 pandemic. In 2024, its operations were absorbed by Smartwings, and CSA was converted into a holding company. This marked the end of its membership in the SkyTeam alliance.

FlyEgypt (Egypt)
FlyEgypt, focused on low-cost and charter operations primarily to Saudi Arabia, ceased flying in October 2024. By the time of its closure, the airline had just one Boeing 737-800 remaining in its fleet.

FlyArna (Armenia)
FlyArna, a joint venture between Air Arabia and local partners, aimed to become Armenia’s national carrier. However, competition from low-cost carriers and larger airlines in the region proved insurmountable. The airline, which once operated three Airbus A320-family aircraft, ceased operations in January 2024, with its Air Operator Certificate (AOC) revoked in March.

Humo Air (Uzbekistan)
Launched in December 2023 as Uzbekistan liberalized its air travel market, Humo Air aimed to operate a fleet of 18 aircraft by 2025 and serve 60 destinations. However, these ambitions quickly unraveled, and the airline ceased operations in 2024.

Nordica (Estonia)
After launching as Estonia’s flag carrier following Estonian Air’s collapse in 2015, Nordica transitioned to wet-leasing and ACMI services. Despite these efforts, the airline ceased operations in November 2024.

Jetlines (Canada)
Canadian low-cost carrier Jetlines, which began operations in 2022 with a fleet of four Airbus A320s, ceased operations in 2024 due to financial difficulties.

OTT Airlines (China)
A subsidiary of China Eastern Airlines, OTT Airlines operated more than 20 Chinese-made ARJ21 aircraft. Established in 2020, the airline ceased operations in 2024, with its fleet and routes integrated into its parent company.

Lynx Air (Canada)
Previously known as Enerjet, Lynx Air operated nine Boeing 737 MAX aircraft, with 38 more on order. Despite ambitious plans, the airline folded in 2024 due to challenges in Canada’s competitive market.

Tailwind Air (United States)
Known for its seaplane services between Manhattan and Boston, Tailwind Air suspended operations in 2024 due to insufficient demand. The airline is now seeking investors to revive its niche model.

LIAT (Antigua and Barbuda)
LIAT, a regional Caribbean airline, succumbed to financial pressures again in early 2024, ceasing all operations after repeated struggles to remain viable.

Lamnei Airlines (Cambodia)
Lamnei Airlines, which operated a fleet of Airbus A320-family aircraft connecting Cambodia to China and Southeast Asia, folded in 2024 amid intense competition and financial struggles.

Eagle Air (Iceland)
This small regional airline ceased operations in 2024.

JetAir Caribbean (Curaçao)
Operating a single Fokker 70 on regional routes, JetAir Caribbean filed for bankruptcy in 2024.

Airlines That Rebranded or Restructured

Air Vanuatu (Vanuatu)
Known for connecting Vanuatu with Australia, New Zealand, and other Pacific islands, Air Vanuatu suspended operations as part of a restructuring. Limited domestic flights resumed in August 2024 following months of grounding.

Spirit Airlines (USA)
Spirit Airlines filed for Chapter 11 bankruptcy in 2024, citing rising operational costs and challenges adapting to post-pandemic travel trends. Efforts to rebrand and target higher-yield travelers have been met with mixed results as the airline fights to stabilize amid intense competition in the low-cost sector.

Air Malta (Malta)
Air Malta underwent a significant transformation, replaced by KM Malta Airlines, a rebranded entity with a clean balance sheet and revised strategy. The transition provides hope for a fresh start, though challenges remain.

Vistara (India)
In 2024, Vistara was merged into Air India in a strategic consolidation, streamlining operations under its parent companies.

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