Norway's Flyr has filed for bankruptcy after failing in late 2022 and early 2023 to raise the cash needed to keep operating.
"Flyr was unsuccessful with the new financial plan and the board concluded on Tuesday evening that there are no alternatives for further operation. The company will file for bankruptcy on Wednesday morning. Flyr has now ceased trading and all flights are cancelled and will not be rescheduled," the defunct carrier announced.
The statement came the same week Flyr had said it had encountered difficulties raising capital and sourcing aircraft on lease. Investors had sought assurance that it could both revise a November financing plan to their satisfaction and that it could lease aircraft in a highly competitive market.
The collapse of the airline came four days after British regional carrier Flybe gave passengers scant notice of its second collapse in three years.
Aviation industry analysts at Cirium said Flyr "was scheduled to serve 32 destinations across Europe in 2023, with its largest operation being at Oslo Airport where the carrier was based" and was due to open a route linking the Norwegian capital with Gatwick Airport in London.
Flyr was scheduled to operate 306 flights in February 203, equating to over 57,000 seats, Cirium estimated.
"We encourage everyone who has booked a ticket with us to contact their credit card company for a refund," Flyr said in a note aimed at passengers.