Major airline plunges into administration and stops flights – in business since 1992 | World | News
Smartlynx Airlines has completely ceased operations (Image: Getty)
A well-known airline has collapsed into administration after more than three decades of service, leaving a staggering debt of £206 million. Latvia-based Smartlynx Airlines has been struggling with financial difficulties since the fall of 2025.
Despite efforts to salvage the situation, undisclosed levels of debt and the failure to formulate a suitable recovery strategy resulted in the cessation of operations and the grounding of many aircraft. The airline was famous for supplying European carriers such as EasyJet, which applied its own branding to otherwise unmarked aircraft. Recently, the airline has even expanded its reach to India.
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A major airline company went into administration (Image: Getty)
Between 2023 and 2024, the airline significantly increased its fleet size to meet demand; It has carried more than 10 million passengers in a single year and catered to customers such as IndiGo, Turkish Airlines, AnadoluJet, AirTransat, DHL and others through dedicated ACMI and charter services.
However, on 24 November 2025, the firm confirmed that it would cease all operations, leaving behind a debt of £206 million (€240 million) to the Latvian government and unpaid taxes of £433,000 (€500,000).
The closure means that one of Europe’s longest-running wet lease and charter providers comes to an end after 33 years in business.
The airline commented in a statement: “This decision came after a thorough assessment of our situation and long-term outlook and was not taken lightly.
“We started as a small Latvian airline with big dreams, and over 33 years we have grown into an international family known for its resilience, adaptability and never-backing-down spirit.”
The airline, which left behind a “true legacy”, expressed its gratitude to thousands of its colleagues. The statement added: “SmartLynx has always been built by its people – passionate professionals from every corner of the world who take on every challenge with determination.
“Together, we have filled the last thirty years with unforgettable moments: days and nights in the sky, flights around the world, the opening of new bases, the formation of new teams and many special stories.
“These moments, created by thousands of dedicated colleagues over three decades, are the true legacy of SmartLynx. To our teams, partners, customers, and friends—thank you.”
