Zach Vasile

Swedish airline Braathens International Airways has filed for bankruptcy after failing to secure financing for its fleet of Airbus jets.

In a message posted on its website, the carrier said two business entities connected to its Airbus operations– Braathens International Airways AB and Braathens Crew AB – filed for bankruptcy protection in Solna District Court in Sweden this week.

Officials traced the company’s problems to its founding in 2022, which proved more “complex” than expected and delayed deliveries of aircraft. In the years since, demand from tour operators, who the airline primarily serves, has softened, and cost-saving measures were not enough to keep the carrier in the black.

“On 27 August 2025, the board of directors decided to discontinue the Airbus business through a gradual phase-out,” the statement read. “To secure the costs of continued operations during the phase-out, 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.”

Braathens International Airways operates flights on behalf of its sister company, Braathens Regional Airlines.

The carrier said it will continue to fly its fleet of ATR 72-600 turboprop aircraft.

“I understand that those affected are sad, shocked, and disappointed,” Per G. Braathen, chairman of the board and majority owner of Braathens, said in a news release. “Now we have no choice but to focus on the part of the business that can achieve long-term profitability.”

The airline said it is now negotiating with labor unions to begin the process of layoffs, though it will aim to retain as many employees as possible.