Coronavirus: List of airlines that went bankrupt during this period
Coronavirus pandemic it leaves deep traces in the world economy. Tourism, aviation and hospitality industries, most affected by the crisis caused by COVID-19. Millions of people have lost their jobs, others are technically unemployed. Thousands of companies have closed or will close in the near future all over the world.
List of bankrupt airlines
As I was telling you, aviation is one of the industries hard tried by the new coronavirus. For 2-3 months, up to 17 planes remained on the ground, hundreds of companies suspended their operations, and millions of passengers did not reach their destination. And some of the airlines went bankrupt.
South African authorities have decided the fate of South African Airways. It liquidates the existing one, and from the ashes of SAA to be reborn another national company South African Airways. It may not be called the same, but it certainly wants to be built in a public-private regime on the foundations of the current airline.
Bankruptcy Avianca Holdings
South America's second-largest carrier, Avianca, has entered reorganization proceedings under Chapter 11 of the American Bankruptcy Code. The bankruptcy came just days before he paid his government bonds.
Bankruptcy Air Mauritius
Air Mauritius has entered the reorganization process; after failing to meet their current and future financial obligations as a direct result of the disruptions caused by COVID-19.
Bankruptcy Virgin Australia
On April 20, Virgin Australia applied to enter the reorganization process, after almost 20 years of operation. The collapse of Virginia Australia is the largest in the history of Australia.
Bankruptcy Miami Air International
Miami Air International ceased operations on May 8, 2020, after 29 years of air services. The airline informed its staff that they cannot privatize the company and do not have the resources for viable financing.
Bankruptcy BRA (Braathens Regional Airlines)
In early April, the Swedish airline BRA (Braathens Regional Airlines) requested to enter the reorganization process, in accordance with bankruptcy laws. BRA was created in 2016 through a merger of several Nordic airlines. It provided air services to 20 destinations, most of them in Sweden.
The most resounding bankruptcy came from the UK and it is the Flybe bankruptcy. He ceased his activity on March 5, after a period of agony. However, the British air carrier had been in financial trouble for some time, it was in the process of being reorganized. But the COVID-19 crisis hastened things to an unfortunate end.
Bankruptcy of Thai Airways
Thai Airways, Thailand's national carrier, will begin the reorganization process under bankruptcy law.
The Thai airline intends to resume full operations once the COVID-19 crisis is stopped. But for this, he will have to wait. On May 19, the airline announced the suspension of operations for another month after the civil aviation authority banned international flights until June 30, 2020.
From its current position, Thai Airways has two directions. To be miraculously saved or to collapse spectacularly.
Bankruptcy Trans States Airlines
The St. Louis-based regional carrier Trans States Airlines, which offers flights to United under the United Express brand, ceased operations last month.
Bankruptcy of Compass Airlines
Compass Airlines, which offers regional flights to American Airlines by American Eagle and Delta Airlines as Delta Connection, closed all operations on April 7.
On 20 April 2020, Norwegian Air Shuttle was forced to close four subsidiaries in Denmark and Sweden. The reasons are clear! Financial problems exacerbated by the COVID-19 crisis.
There aren't big names in the aerospace industry yet, but they can show up anytime. Most airlines are making huge efforts to get over this crisis. Many of them have sought government support, including TAROM and Blue Air have applied for state funding. The airlines of Lufthansa Group and Air France-KLM are in negotiations with the authorities in each country for financial support. The deeper the crisis and the more planes will remain on the ground, the harder it will be for some airlines to recover from the decline.