By Ion Axinescu

Copyright euroweeklynews

Another one bites the dust.

Sweden’s Braathens International Airways, the charter carrier that was supposed to whisk holidaymakers from chilly Scandinavia to sunny Spain or the Greek islands, has officially crashed in the courts.

The airline just filed for bankruptcy at Stockholm’s District Court. They’ve stopped their Airbus operations and instantly cancelled charter flights for some of Scandinavia’s biggest tour operators.

Travellers left stranded

Now, thousands of travellers who thought they had their late-season vacations locked are left scrolling through their inboxes. All of them are wondering if their package deals are toast.

For operators like Ving and Apollo, names practically synonymous with Nordic summer getaways, the scramble to find replacement planes has already begun. But in the seasonal chaos, that’s a bit like trying to book a last-minute Airbnb in Barcelona or Mallorca. We all know it, everyone’s full, and it’s going to cost a lot.

A young company that didn’t deliver

Braathens International Airways was a very young player in this industry. Founded just in 2022, the airline positioned itself as the fresh face of Scandinavian charter travel. Contracts worth billions of Swedish kronor had been inked with famous operators like Ving and Apollo, promising reliable service from Stockholm, Gothenburg, and other important towns in Sweden to Europe’s favourite sun spots. Their fleet, a mix of Airbus A319s and A320s, wasn’t flashy, but it was supposed to get the job done.

Except it didn’t. Things were quite messy right from the start, to be honest. Aircraft deliveries lagged. Operating costs ran high. Demand, which had spiked post-pandemic, started to soften. Behind the scenes, the numbers just wouldn’t add up.

By late August this year, the writing was on the wall. In a brutally honest statement, the board admitted that the Airbus business was just too expensive to keep afloat: “Extensive additional financing was required, which unfortunately did not succeed. The board of directors and management deeply regret the situation, but given the acute financial situation, there are no alternatives left.”

What does the future hold?

And just like that, the jet dream evaporated.

For the Braathens Group, which also operates Braathens Regional Airlines (BRA), the focus now shifts back to its turboprop fleet: ATR 72-600s buzzing between Swedish cities. Less glamorous than flying tourists to Tenerife, sure, but apparently more sustainable.

Chairman and majority owner Per G. Braathen didn’t sugarcoat it: “I understand that those affected are sad, shocked, and disappointed. Now we have no choice but to focus on the part of the business that can achieve long-term profitability.”

In other words, the Airbus era is over, jobs are on the line, and the brand is taking a reputational hit. Negotiations with unions are underway, and layoffs seem inevitable.

A fragile industry

For passengers, the collapse is another reminder that the aviation industry is a fragile beast. One minute you’re packing your sunscreen, the next you’re stranded because your airline’s balance sheet couldn’t hold altitude.

If there’s a silver lining, it’s that other airlines will swoop in to cover the lost capacity, but probably at higher fares.

Read here more news from Sweden.

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