Struggling Norwegian carrier Flyr has ceased operations and is to file for bankruptcy on 1 February after failing to secure new financing.
The Oslo-headquartered airline, which launched operations in June 2021, had warned it faced a critical short-term liquidity situation after a planned financing failed.
”Flyr was unsuccessful with the new financial plan and the board concluded on [31 January] that there are no alternatives for further operation,” the airline says in a statement.
“The company will file for bankruptcy on [1 February]. Flyr has now ceased trading and all flights are cancelled and will not be rescheduled.”
It says the bankruptcy trustee will take over all responsibility for Flyr.
Flyr had hoped a tentative deal to operate wet-lease flights for an undisclosed European airline over the summer would enable it to continue operations, having struggled to sustain operations during the lower-demand winter season.
However, that plan was dashed when it was unable to secure underwriting for a crucial rights issue, on which the proposed deal to wet-lease six aircraft was contingent.
Although Flyer has a fleet of 12 aircraft – a mix of Boeing 737-800s and Max 8s – it had heavily reduced their utilisation for the winter in a bid to save costs.
