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Economic failure

A company is in default or bankruptcy from the time an insolvency procedure is initiated against him. This procedure occurs when a company is in a state of suspension of payments, i.e. it is unable to meet its liabilities with its available assets.

Note

We must not confuse the concept of trial opening procedure failure (bankruptcy of a company registered in the judicial proceedings that did not necessarily solved by a liquidation) and the broader concept of separation (stop total economic activity of a company). Liquidation following default only a part of all deaths of enterprises, around 20% but varies with the time and business sectors.

* Source: INSEE 2006

Here is a list of some airlines that have ceased operations since 2001 following a failure or as part of a merger.

2006

Styrian Spirit - Austrian regional airline from 2003 to 2006. Liquidation.

Air Wales - Welsh Airline 2004 to 2006.

Air Turquoise - French regional airline from 2005 to 2006.

2005

Air Gabon - National Company from 1977 to 2005 became Air Gabon International in 2006.

Horizon Air - Airline French 2004 to 2005. Liquidation.

EU Jet - low-cost airline of Ireland.

Flywest - Travel French charter flights between Brest and Toulon from 2004 to 2006.

Hellas Jet - Airline charter Greek from 2002 to 2005. ICAO Code: HEJ

Jetsgo - Airline of Canada from 2001 to 2005.

Southern Wind - Airline of Argentina from 1996 to 2005. ICAO code: SWJ

2004

Air Atlantic - regional airline based in Le Havre from 1964 to 2004. Liquidation.

Air Bourbon - Airline Reunion from 2003 to 2004. Liquidation.

Air Littoral - French Airline based in Montpellier, which filed for bankruptcy in 2004.

Air Polonia - low-cost airline in Poland from 2002 to 2004.

Armenian Airlines - Airline Armenian from 1991 to 2004. Liquidation.

Azzura Air - Airline Italian from 2002 to 2004. ICAO Code: AZI

Flash Airline - Airline Egyptian private low-cost from 2000 to 2004.

Gandalf Airlines - Italian private airline from 1998 to 2004. ICAO Code: GNF

More Sobelair Belgium, V Bird in the Netherlands, Italy and Volare Westair France.

2003

Aeris - regional airline founded in 1990 under the name Air Toulouse. AERIS becomes lost in 1999 and the 2003. Liquidation.

Air Lib - Airline French 2001 to 2003.

Buzz - Airline French low-cost from 2000 to 2004. ICAO Code: BUZ

Euroceltic - Irish airline from 2001 to 2003.

Go Fly - Airline English from 1998 to 2002, when it was bought by easyJet.

Goodjet - low cost airlines in Sweden from 2001 to 2003. Liquidation.

Khalifa Airways - Airline private Algerian from 199 to 2003. Liquidation. ICAO Code: KZW

Lapa (Líneas Aéreas Privadas Argentinas) - Airline of Argentina from 1977 to 2003. ICAO Code: LPR

Minerva and also in Italy and Aero Lloyd Germany.

2002

Air Afrique - Airline held by countries in West Africa in 1961 and 2002

Swissair - national airline from 1931 to 2002.

Air and Switzerland Switzerland, Ansett Australia, Balkan Bulgaria, Brymon England, CityFlyer Express in England, Belgium Delsay Airlines, L-Air France, England and Manx Rio-Sul in Brazil.

2001

AOM - French Company from 1991 to 2001 disappeared after merger with Air Liberté and Air Littoral.

Citybird - Belgian airline in 1996 to 2001. Liquidation.

Aeroperu and Peru, Air Ukraine Ukraine, Canada in 3000 in Canada, Flandre Air France, Proteus Airlines in France, Royal Air Cambodia Cambodia, Sabena in Belgium, Brazil Transbrasil and TWA in the United States.

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