The aviation industry is an important service that provides numerous social and economic benefits. However, it faces significant challenges due to its demanding and unpredictable nature. Key factors contributing to airline failures include unprofitability, rising costs, fluctuating oil prices, external events, administrative fees, legal expenses, high aircraft costs, substantial operational investments, political instability, disasters, terrorism, and poor service. While some airlines manage to recover and thrive, many do not survive and ultimately cease operations.
In 2024, several airlines became part of the group that stopped operations due to major uncertainties, financial struggles, changing market dynamics, and the impact of previous global crises. Many of these defunct airlines were regional and low-cost carriers, reflecting the turbulence and difficulties faced in the industry. The list of defunct airlines for 2024 includes:
Air Malta
Air Malta, a Maltese airline, operated 8 Airbus A320 planes and flew to over 15 destinations in the Middle East and Europe. It served more than 50 million customers. Unfortunately, it is one of the airlines that shut down in 2024. The main reasons for its failure included poor decisions, too many employees, financial struggles, favoritism, and political interference. Despite receiving several aid packages and loans to help it survive, the airline ultimately could not continue. KM Malta Airlines has taken its place.
Air Vanuatu (National Airline of Vanuatu)
A national carrier of Vanuatu, Air Vanuatu has gone into the liquidation process due to several challenges. Political interference, debt, excess recurring costs, mismanagement, COVID hits, financial losses, and more are the significant reasons behind Air Vanuatu among the airline’s ceased operations 2024 group. According to the officials, the reason is the continuous misuse of the Airline, as the government was its majority shareholder. The official Air Vanuatu will rectify its mistakes and come back stronger.
Humo Air (Uzbekistan Based Airline)
Humo Air, based in Tashkent, Uzbekistan, has recently paused its domestic flights. It is part of the group of airlines that stopped operations in 2024 due to a shift in its future plans. The airline will focus on serving destinations like Turkey, Azerbaijan, the UAE, and Qatar. To achieve this, Humo Air needs to reassess and reorganize its operations. Additionally, it plans to add three Airbus planes and increase its flight frequency to serve over 200,000 customers in the first four months.
Lynx Air (Canada Based Airline)
Lynx Air was a budget airline that started in 2006. Recently, it joined the list of airlines that are closing in 2024. Although it did well at first, it faced many ongoing problems. Officials say the main reasons for its struggles include high operating costs, rising oil prices, increasing airport fees, and complicated financial rules. Additionally, tough economic conditions, inflation, currency issues, and fierce competition in Canada contributed to its decline.
LIAT (Antigua and Barbuda)
LIAT was a regional airline that provided frequent inter-island flights to over ten destinations in the Caribbean. Recently, it stopped operating permanently, but it plans to restructure and improve in the future. The airline almost shut down in 2022, yet it managed to keep going for a while. However, it eventually became one of the airlines that closed in 2024. The main reasons for this situation include outdated planes, loss of staff, economic problems, unresolved issues from the past, and other challenges.
JetAir Caribbean (Curaçao)
JetAir Caribbean has recently become part of the group of defunct airlines in 2024 after declaring bankruptcy. As a result, the trustees have decided to cancel all flights to several destinations, such as Paramaribo, Medellin, and Kingston, among others. The combination of bankruptcy and mismanagement has led to its upcoming closure.
Tailwind Air
Tailwind Air (US) was an American commuter airline that offered scheduled flights. Recently, it joined the group of airlines that are closing in 2024 because it stopped flying between Boston and New York due to financial losses. According to the officials, the airline was not making enough money and could not continue its operations. However, Tailwind officials are looking for investors to help move the business forward.
Jetlines (Canada)
Canada Jetlines, which flew to destinations in America and the Caribbean, recently announced its shutdown. The officials said they are temporarily stopping all upcoming flights. This decision is due to financial problems and a lack of funds to continue operating. Canada Jetlines tried many efforts and economic measures, but it could not survive. Because of this, it has joined the group of airlines that have discontinued operations in 2024. The airline is now seeking help from creditors to try to revive itself.
Fly Arna (Airline of Armenia)
Fly Arna was the national airline of Armenia, created through a partnership between Air Arabia and the government. Recently, Fly Arna has joined the group of airlines that are closing in 2024 because it has been facing ongoing operational changes and is running low on aircraft. The officials have said they hope to restart the airline as soon as possible.
Conclusion
The aviation industry has faced significant challenges, and many airlines have stopped operations in 2024, showing the ongoing vulnerabilities in the sector. Economic changes, operational issues, debt, overstaffing, political interference, and tough competition have all played important roles in the shutdowns of carriers like Air Malta, LIAT, Lynx Canada, and others. These closures highlight the broader struggles facing the airline industry, such as uncertainty, fluctuating demand, and pressure on management.
As the industry adapts to these changing circumstances, these shutdowns serve as a reminder of the complexities and risks involved in global air travel. Many airlines are working hard to save themselves and aim to succeed again. With the right efforts, strategies, and patience, it is possible for them to restore their position in the market.