The crisis also hit the major airline company! All operations have stopped, and the fleet is being stored in the warehouse.

Canadian low-cost airline Canada Jetlines announced that it filed for bankruptcy on September 11, 2024. After ceasing all operations due to financial difficulties, the company appointed BDO Canada Limited to manage the bankruptcy process.

IT OWES PAYMENTS TO 225 CREDITORS

Canada Jetlines has a total debt of 11.8 million Canadian dollars (8.7 million US dollars) and needs to make payments to 225 creditors. The largest creditors include passengers with future flight reservations, Corendon Dutch Airlines, and Smart AMS Inc.

ALL FLIGHTS SUSPENDED

The airline had suspended all flights on August 15, 2024. The four Airbus A320-200 aircraft in the company's fleet are currently stored in different locations. The aircraft lessors include Aviation Capital Group and FTAI Aviation, among other major companies. Creditors will be informed about the progress of the process in a teleconference meeting scheduled for October 1, 2024. Canada Jetlines entered this process without being able to file for bankruptcy protection due to its inability to overcome financial difficulties and secure the necessary funds.