With aviation one of the most expensive industries in which one can break into with a new company, smaller airlines periodically end up going bankrupt or in some cases shutting down before they can take off.
The Air Operator’s Certificate (AOC) given out by the aviation regulatory agency in a given country requires the airline to prove that it has the necessary aircraft, staff and financial resources to not just launch but stay operational in the coming future.
Airlines that have recently lost their AOCs due to its financial situation include Swedish carrier H-Bird, Austrian charter airline Mali Air and the SmartLynx company behind several regional airlines in Europe.
Launched with big plans of becoming the world’s first…