While the collapse of Spirit Airlines is the most high-profile case, multiple small- and mid-size airlines have had to file for bankruptcy and in some cases shut down operations entirely since the start of the year.
Earlier this week, Mexican low-cost carrier Magnicharters filed for bankruptcy protection in the First District Court for Bankruptcy Proceedings in Mexico City approximately a month after suspending all flights for what it initially hoped would be a period of two weeks.
While the carrier initially blamed the shutdown solely “operational problems,” regulators stripped its AOC over a lack of financial resources severe enough to “represent a risk.”
Joy Air enters early restructuring process in China
In an…