While the aviation industry is particularly prone to bankruptcies due to the sky-high cost of operations, the autumn months of 2025 brought with them a few major bankruptcy announcements in short succession.
In the last days of August, low-cost carrier Spirit Airlines filed for bankruptcy for the second time in nine months after its earlier plans to restructure and bring in customers through higher fare classes failed to pan out.
A month later, Icelandic low-cost carrier Play Airlines canceled all flights and told travelers to rebook with other airlines amid several quarters of financial losses. Swedish company Braathens Aviation followed with another bankruptcy just a few days later.
The latter carrier ran chartered…