Another one: Sweden’s Braathens International files for bankruptcy

Sweden-based Braathen International Airways, the subsidiary of Braathens that operated Airbus A319ceo and A320ceo aircraft for charter companies or on behalf of other operators, has filed for bankruptcy, citing a failure to secure financing to continue the operations of its narrowbody jets.

On September 29, 2025, Braathens, which had already decided to phase out the A320ceo family aircraft a month prior, said that Braathens International Airways and Braathens Crew, two companies related to the operation of the jets, have filed for bankruptcy.

The Swedish company explained that when its board made the decision to gradually phase out the Airbus aircraft in August 2025, it searched for financing to continue operations of the aircraft. However, the efforts have not been succesful, forcing the company to file for bankruptcy.

Braathens Regional Airways (BRA) will continue flying, focusing on ATR 72-600 operations, some of which are wet leased to SAS. Planespotters.net data showed that Braathens International Airways had five aircraft, two A319ceo and three A320ceo, while BRA had another pair of A319ceos, registered as SE-RGD and SE-RGV.

Flightradar24 records showed that the two latter aircraft had been flying on behalf of SAS in the past few months, or in the case of SE-RGV, at least for the month of September 2025.

The Swedish airline said that Braathens International Airways was established in 2022, with the process having been more difficult than expected. Delayed aircraft deliveries and higher startup and operating costs had resulted in financial challenges, resulting in an reorganization in 2023, which Braathen International Airways strongly contributed to.

BRA explained that while the initial plan was to gradually phase out the A320ceo family aircraft, “extensive additional financing was required,” which was not obtained. Since the pandemic, the parent company of Braathens International Airways had invested over SEK300 million ($31.8 million) into the business without turning a profit.

Per Braathen, the Chairman of the Board of Braathens, reiterated that “the funding that we have tried to get in place for a controlled phase-out has not been achieved and I understand that those affected are sad, shocked and disappointed.”

The shock has also been expressed by some employees of the company. One now-ex Braathens International Airways pilot said on their LinkedIn profile on September 29, 2025, that while they are currently flying as a captain on the A320ceo family aircraft, it was unclear how much time they have left with the company.

Mere hours later, just after midnight on September 30, 2025, the post was edited to reflect the fact of the bankruptcy.

Braathen International Airways’ bankruptcy was the second within 24 hours in Europe. Several hours before, PLAY, the Iceland-based low-cost carrier, which had bet that it would the one to be able to succesfully carry passengers between Europe and North America with a hub at Reykjavik Keflavik International Airport (KEF), later pivoting to direct, point-to-point and wet lease operations, announced that it would cease operations with immediate effect.

While it had initially remained unclear whether PLAY Europe, the Icelandic carrier’s subsidiary in Malta, which had provided aircraft, crew, maintenance, and insurance (ACMI) services for other airlines, would continue, the Icelandic carrier later said that it would file for bankruptcy in Reykjavik, Iceland.

Iceland’s PLAY ceases operations

PLAY had unsuccessfully attempted to pivot from transatlantic low-cost services to direct leisure connections and wet lease operations.

The Engine CowlRytis Beresnevicius

PLAY Europe’s three Airbus A321neo aircraft, 9H-PEA, 9H-PEB, and 9H-PEC, have scheduled departures on September 30, 2025, according to flight plans shown by Flightradar24. Some of them are on behalf of SkyUp or SkyUp Malta, yet all three have flights to Toulouse Francazal Airport (QYF), where the Icelandic PLAY’s aircraft are headed as well, presumably for long-term storage.

Unless, of course, the jets’ lessors find a new home for the A320neo and A321neo aircraft quickly.