aviation: Dramatic financial situation: Flyr is threatened with bankruptcy

aviation Dramatic financial situation Flyr is threatened with bankruptcy


As early as November 2022, the low-cost airline Flyr had serious financial problems. At that time, a new business plan including investors was presented. This now seems to have burst, which dramatically aggravates the situation to die. Flight operations are still running according to plan, but there should be no more flights on Tuesday.

The company announced as follows: « The business plan, which was published in November 2022, assumed a certain share price. However, over time, the share price underperformed what was needed to implement the plan. The company has therefore been writing solutions since before Christmas to obtain the necessary capital for an alternative financing plan ».

Flyer saw a lot of demand for charter flights and ACMI charter flights for other airlines. Before Christmas, Flyer reached an agreement with a European airline to operate six aircraft in the summer of 2023. The board and financial advisors were confident that this agreement would lead to the success of the business plan. But things turned out very differently than expected: « Unfortunately, Flyr was not successful with the alternative business plan and is now in a situation in which the board has to check whether there are alternatives for continued operation, » says company boss Erik Braathen.

Regular flights are to continue on Monday, although only Málaga, Alicante and Las Palmas will be headed for anyway. All flights have been canceled for January 31, 2023. We will inform you as soon as possible about how things will continue.

Flyr further states: “Flyr will provide updated information as soon as possible and understands that this situation is causing uncertainty among travelers. The company is asking everyone who has booked a trip to contact Flyer directly or visit www.flyr.com for more information. »

The article Dramatic financial situation: Flyr faces bankruptcy appeared first on Aviation.Direct.

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