{"id":5678,"date":"2026-06-04T16:03:00","date_gmt":"2026-06-04T16:03:00","guid":{"rendered":"https:\/\/www.fintechpulse8.com\/?p=5678"},"modified":"2026-06-04T16:03:00","modified_gmt":"2026-06-04T16:03:00","slug":"another-airline-prepares-to-shut-down-and-cancel-all-flights","status":"publish","type":"post","link":"https:\/\/www.fintechpulse8.com\/?p=5678","title":{"rendered":"Another airline prepares to shut down and cancel all flights"},"content":{"rendered":"

<\/p>\n

Since the start of the spring and the U.S. strike on Iran, a number of both commercial and non-commercial airlines have been affected by the skyrocketing price of jet fuel to the point of no longer being able to stay in business.<\/p>\n

Maeve Aerospace, a Netherlands-based hybrid-electric airplane developer that was initially treated like a dream child wit the potential to take aviation into a new and more sustainable direction, was declared insolvent by a Dutch court\u00a0at the start of June after failing to meet a \u20ac20 million funding round.<\/p>\n

On June 3, Bournemouth-based cargo carrier European Cargo Limited was also declared insolvent by a British court. The airline was established in 2020 to meet the British government’s contract for a carrier that could deliver personal protective equipment during the height of the covid-19 pandemic.<\/p>\n

Finnish charter airline Jetflite enters consultation process to discontinue business: report<\/h2>\n

In the Nordic nation of Finland, charter carrier Jetflite has became the latest airline to near a potential shutdown; as first reported by Swiss outlet ch-aviation, the airline launched out of Helsinki in 1980 has entered consultations on shutting down the majority of its business and letting go of 53 employees across flight operations.<\/p>\n

Related: American Airlines cancels six flights until October, refunds available<\/strong><\/p>\n

Jetflite is part of the wider Wihuri Aviation group and operates a number of businesses including charter routes, ambulance flights and packaging, daily goods and technical trade transportation.<\/p>\n

Its fleet includes a 18-seat\u00a0Challenger 604, a\u00a012-seat Challenger 650\u00a0and a Falcon 7X. Jetflite retired its single Gulfstream\u00a0G150 in 2025 over high operational costs.<\/p>\n

\n

Jetflite operated out of Helsinki Airport since 1980.<\/p>\n

Image source&colon; Finavia<\/p>\n<\/figcaption><\/figure>\n

“The prolonged unprofitable performance of these businesses”: Jetflite<\/h2>\n

“The negotiations concern the planned discontinuation of the above-mentioned businesses and the potential termination of employment of the associated personnel,” Jetflite confirmed in a statement. “The decisions under consideration are driven by the prolonged unprofitable performance of these businesses.”<\/p>\n

Jetflite has not commented further on the exact details of the consultation process or the financial situation that led to it potentially having to shut down operations.<\/p>\n

More Travel News<\/strong>:<\/p>\n

    \n
  • Airline to launch unusual new flight to Cayman Islands from the U.S.<\/strong><\/li>\n
  • What you can expect at Disneyland’s new ‘World of Frozen’<\/strong><\/li>\n
  • Unexpected country is most luxurious travel destination for 2026<\/strong><\/li>\n
  • U.S. government issues strange warning on Ireland travel<\/strong><\/li>\n<\/ul>\n

    The consultation process is expected to start on June 8 and take three weeks, at which point a decision about the airline’s future will be made. <\/p>\n

    The wider Wihuri Aviation was launched in 1901 by Finnish wholesale tycoon Hjalmar Aarnio and is not affected by the looming shutdown of its subsidiary.<\/p>\n

    Airlines that filed for bankruptcy\u00a0<\/strong>in 2026:<\/h3>\n
      \n
    • Spirit Airlines:\u00a0<\/strong>The largest airline shutdown of the year occurred when Spirit Airlines\u00a0canceled all remaining flights\u00a0on May 2. Although the airline had filed for Chapter 11 protection twice before, the skyrocketing price of jet fuel dealt the final blow to its operations.<\/li>\n
    • Magnicharters:\u00a0<\/strong>The\u00a0Mexican low-cost airline\u00a0<\/strong>canceled all of its flights until May 2026 in a shutdown that left thousands stranded.<\/li>\n
    • Starflite Aviation:\u00a0<\/strong>Houston-based\u00a0Starflite Aviation<\/strong>\u00a0had its AOC license revoked in March 2026, amid FAA claims that\u00a0owners falsified pilot training records\u00a0to bypass safety audits.<\/li>\n
    • AlpAvia:<\/strong>\u00a0Slovenian\u00a0charter airline AlpAvia<\/strong>\u00a0also shut down in March 2026 over financial problems.<\/li>\n
    • H-Bird<\/strong>: Charter airline\u00a0H-Bird was declared bankrupt<\/strong>\u00a0by a Swedish judge\u00a0after losing its operating license\u00a0at the end of 2025.<\/li>\n<\/ul>\n

      Related: Another airline files for bankruptcy, cancels flights<\/strong><\/p>\n

      #airline #prepares #shut #cancel #flights<\/p>\n","protected":false},"excerpt":{"rendered":"

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