Since the start of the spring and the U.S. strike on Iran, a number of both commercial and non-commercial airlines have been affected by the skyrocketing price of jet fuel to the point of no longer being able to stay in business.
Maeve Aerospace, a Netherlands-based hybrid-electric airplane developer that was initially treated like a dream child wit the potential to take aviation into a new and more sustainable direction, was declared insolvent by a Dutch court at the start of June after failing to meet a €20 million funding round.
On June 3, Bournemouth-based cargo carrier European Cargo Limited was also declared insolvent by a British court. The airline was established in 2020 to meet the British government’s contract for a carrier that could deliver personal protective equipment during the height of the covid-19 pandemic.
Finnish charter airline Jetflite enters consultation process to discontinue business: report
In the Nordic nation of Finland, charter carrier Jetflite has became the latest airline to near a potential shutdown; as first reported by Swiss outlet ch-aviation, the airline launched out of Helsinki in 1980 has entered consultations on shutting down the majority of its business and letting go of 53 employees across flight operations.
Related: American Airlines cancels six flights until October, refunds available
Jetflite is part of the wider Wihuri Aviation group and operates a number of businesses including charter routes, ambulance flights and packaging, daily goods and technical trade transportation.
Its fleet includes a 18-seat Challenger 604, a 12-seat Challenger 650 and a Falcon 7X. Jetflite retired its single Gulfstream G150 in 2025 over high operational costs.
Image source: Finavia
“The prolonged unprofitable performance of these businesses”: Jetflite
“The negotiations concern the planned discontinuation of the above-mentioned businesses and the potential termination of employment of the associated personnel,” Jetflite confirmed in a statement. “The decisions under consideration are driven by the prolonged unprofitable performance of these businesses.”
Jetflite has not commented further on the exact details of the consultation process or the financial situation that led to it potentially having to shut down operations.
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The consultation process is expected to start on June 8 and take three weeks, at which point a decision about the airline’s future will be made.
The wider Wihuri Aviation was launched in 1901 by Finnish wholesale tycoon Hjalmar Aarnio and is not affected by the looming shutdown of its subsidiary.
Airlines that filed for bankruptcy in 2026:
- Spirit Airlines: The largest airline shutdown of the year occurred when Spirit Airlines canceled all remaining flights on May 2. Although the airline had filed for Chapter 11 protection twice before, the skyrocketing price of jet fuel dealt the final blow to its operations.
- Magnicharters: The Mexican low-cost airline canceled all of its flights until May 2026 in a shutdown that left thousands stranded.
- Starflite Aviation: Houston-based Starflite Aviation had its AOC license revoked in March 2026, amid FAA claims that owners falsified pilot training records to bypass safety audits.
- AlpAvia: Slovenian charter airline AlpAvia also shut down in March 2026 over financial problems.
- H-Bird: Charter airline H-Bird was declared bankrupt by a Swedish judge after losing its operating license at the end of 2025.
Related: Another airline files for bankruptcy, cancels flights
