Norwegian low-cost Flyr has announced that it will file for bankruptcy and cease all operations.
A decision to file for bankruptcy comes after the airline failed to acquire the necessary funding for the company.
Flyr is one of the industry’s newer airlines launching in 2021. The airline’s mission was to operate low-cost flights around Norway and as wide as Europe. However, the airline has cited difficulties with demand, funding and the state of the industry as reasons why they failed.
Per Cirium data, the airline flew to locations in Spain, Norway, Switzerland, Germany, Italy, Belgium, France and Austria.
Norwegian carriers have notoriously made headlines recently as they struggle to acquire enough funds and demand to sustain long-term operations. In addition, struggles stretch to several airlines in the Nordic region, undergoing significant cost-cutting measures and business restructures.
The airline operated a fleet of Boeing 737s. As a result of their collapse, hundreds will lose their jobs.
Norway isn’t a large country in terms of population and doesn’t have the demand for three airlines. Norwegian has previously faced financial difficulties and SAS is facing financial difficulties, on top of that Flyr was facing competition from other airlines like Ryanair among others.
[…] be handled when demand drops. Nordic carriers have struggled significantly during the winter, with Flyr being the latest to announce it had ceased […]