Braathens forced to file for bankruptcy of Airbus operations due to liquidity shortage – ATR72-600 operations continue as planned

At the end of August, Braathens’ Board of Directors decided to focus on an expanding fleet of ATR72-600 turboprop aircraft, while Airbus operations linked to contracts with tour operators and other airlines would gradually be phased out. At that time, the Board and management were actively working to secure financing to allow continued operations during the wind-down of the Airbus fleet. However, these financing initiatives have not succeeded.

As a result, the Board of Braathens International Airways AB has been forced to file for bankruptcy with the Stockholm District Court for the companies linked to Airbus operations – Braathens International Airways AB and Braathens Crew AB. This means that all Airbus flights for tour operators are immediately cancelled. Together, the companies employ around 200 people, all of whom are covered by the national wage guarantee.

Braathens International Airways AB was established in 2022 to provide Airbus operations for tour operators. The set-up turned out to be more complex than expected, and delayed aircraft deliveries combined with higher-than-anticipated establishment and operating costs led to financial challenges. In 2023, the Braathens group underwent a restructuring in which Braathens International Airways AB played a major role. Since then, demand from tour operators has continued to decline and, despite cost-saving measures, it has not been sufficient to secure continued operations. On August 27, 2025, the Board therefore decided to wind down Airbus operations through a gradual phase-out. To cover costs during the phase-out, substantial additional financing was required – unfortunately, this could not be secured. Since the pandemic, the owners have invested over SEK 300 million without being able to achieve profitability in Airbus operations. The Board and management deeply regret the situation, but given the acute financial circumstances, no options remain.

“It is with great regret that the Board this evening has been forced to file for bankruptcy for the Airbus operations. The financing we tried to secure for a controlled phase-out unfortunately did not materialise, and I understand that those affected are saddened, shocked, and disappointed. We now have no other choice but to shift focus to the part of the business that can achieve long-term profitability,” says Per G. Braathen, Chairman of the Board and majority owner of Braathens.

The companies Braathens Regional Airlines AB, Braathens Regional Airways AB, Braathens People AB, and Braathens Support AB are not affected by the bankruptcy proceedings. Operations continue in these companies, meaning Braathens’ ACMI flights for other airlines with ATR72-600 aircraft will proceed as planned. Follow-up processes will now begin, including union negotiations, primarily related to redundancies in administration due to the discontinuation of Airbus operations. In the near future, the Board and management will take measures to safeguard the parts of the business where demand and viability remain. The goal is to continue delivering according to agreements and to preserve jobs within the group in the long run.