Braathens International Airways AB has filed for bankruptcy, immediately halting all its Airbus operations. The application, lodged today (Tuesday) with the Solna District Court, Sweden, also includes subsidiary Braathens Crew AB, affecting approximately 200 employees.
The move follows an unsuccessful attempt to secure financing required to sustain operations while gradually phasing out Braathens Group’s Airbus fleet—a decision made by the Board of Directors in late August to focus on the more profitable ATR72-600 turboprop fleet.
The Board and management blamed the prolonged financial challenges faced by Braathens International Airways AB, initially established in 2022 to provide Airbus flights to tour operators.
A complex, delayed start-up, higher-than-expected operating costs, and a continued decline in demand from tour operators were key factors in its demise. Despite its owners injecting over SEK 300 million (USD 32 million) since the pandemic, the Airbus business failed to achieve profitability.
“It is with great sadness that the Board of Directors tonight has been forced to file for bankruptcy for the Airbus business,” said Per G. Braathen, Chairman of the Board and majority owner. “Unfortunately, the funding that we have tried to get in place for a controlled phase-out has not been achieved. Now we have no choice but to focus on the part of the business that can achieve long-term profitability.”
Crucially, the bankruptcy filing does not affect the companies Braathens Regional Airlines AB, Braathens Regional Airways AB, Braathens People AB, and Braathens Support AB, which will continue to operate Braathens’ ACMI operations using the ATR-72 600 turboprop fleet.
The ATR-72 600s operated by Braathens are unaffected by the bankruptcy.
