Braathens has two divisions – its ATR division and its Airbus division
Sadly, the money monster has claimed another airline, Braathens, flying its Airbus operation, Braathens International Airways, along with Braathens Crew AB, filing for bankruptcy.
Braathens has been forced to file for bankruptcy for its Airbus operations in the company Braathens International Airways AB due to liquidity shortages.
This means that all Airbus flights for tour operators are cancelled with immediate effect. The division was set up in 2022, and whilst gaining contracts, it was seemingly not the money spinner it was.
Braathens’ Board of Directors decided to focus on a growing fleet of the ATR72-600 turboprop, while Airbus aircraft linked to agreements with tour operators and other airlines would be gradually phased out.
In August, the Board of Directors and management were engaged in activities to secure financing for continued operations during the phase-out of the Airbus fleet. The financing activities initiated by the company have not been successful, and as a result, the Board of Directors of Braathens International Airways AB has been forced to file for bankruptcy at the Solna District Court for the companies linked to the Airbus operations – Braathens International Airways AB and Braathens Crew AB.
Approximately 200 employees, all of whom are covered by the state wage guarantee, are affected.
Other parts of Braathens (Braathens Regional Airlines AB, Braathens Regional Airways AB, Braathens People AB and Braathens Support AB), which handle traffic with ATR72-600 operating on behalf of Scandinavian Airlines as well as ACMI flights, will continue as planned.
Braathens International Airways primarily operated charter flights to southern Europe for tour operators, including Ving, TUI, and Apollo. In all cases, you’ll need to contact your operator for further assistance.
At the time services halted, Braathens International Airways operated a fleet of two Airbus A319s and three Airbus A320s.
In Quotes
Per G. Braathen, Chairman of the Board and majority owner of Braathens, said:
It is with great sadness that the Board of Directors tonight has been forced to file for bankruptcy for the Airbus business. Unfortunately, the funding that we have tried to get in place for a controlled phase-out has not been achieved and I understand that those affected are sad, shocked and disappointed. Now we have no choice but to focus on the part of the business that can achieve long-term profitability.
Money talks
It’s always disappointing to see an airline fail. Whilst Braathens International Airways is another name swept to the dust, it appears there wasn’t much space for the aircraft, with it picking up charters and not sustaining the year-round traffic to make it work.
Even Braathens saw it as they sought to wind down the airline elegantly.
But as well as know, money talks… and when the money runs out, aircraft stop flying.
For 200 staff, there’s a hunt for a new job now, whilst those who are on holiday might find their flights might have to be changed.
Economy Class and Beyond is brought to you by Kevin. They provide a no-nonsense guide to aviation network news, passenger experience insights, honest reviews, in-depth coverage, unique research, as well as the humour and madness I only know how to deliver.
Our Social Media pool has expanded. You can find us across most networks as @economybeyond on BlueSky, Threads, Mastodon and Instagram!
Also, remember that we are
Leave a Reply