As 2024 comes to a close, the aviation industry reflects on its mix of successes and challenges. While many air lines thrived amidst record passenger numbers and a rebound from the pandemic, others faced insurmountable challenges, leading to their closure or merger.
According to ch-aviation, a total of 27 airlines ceased operations this year, marking a somber chapter in aviation history. Here’s a look at some of the airlines we lost in 2024 and the stories behind their exits.
1. Air Malta
Closure Date: March 30, 2024
- Overview: Air Malta, the national carrier of Malta, was known for its narrowbody fleet and services connecting Europe, the Middle East, and North Africa.
- Challenges: The airline struggled under intense competition from low-cost carriers that expanded aggressively on the island.
- Outcome: Ceased operations but was immediately replaced by KM Malta Airlines, a government-backed carrier, on March 31, 2024.
2. LIAT (1974)
Closure Date: January 24, 2024
- Overview: LIAT was a regional airline based in Antigua and Barbuda, serving inter-island routes in the Caribbean.
- Challenges: Mounting debt and a lack of liquidity during the COVID-19 pandemic led to its liquidation.
- Outcome: It has been replaced by LIAT20, a new carrier supported by the Government of Antigua and Barbuda and Air Peace.
3. Lynx Air
Closure Date: February 26, 2024
- Overview: Marketed as Canada’s answer to Ryanair, Lynx Air was an ultra-low-cost carrier based in Calgary, Alberta, offering domestic and transborder routes.
- Challenges: High operational costs and financial pressures forced the airline into creditor protection on February 22. It ceased operations just four days later.
4. Go First (India)
Closure Date: May 3, 2024
- Overview: Previously known as GoAir, this Mumbai-based low-cost carrier operated a fleet of Airbus A320 aircraft.
- Challenges: Severe supply chain issues with Pratt & Whitney engines led to the grounding of 28 out of 54 aircraft, causing operational disruptions. Combined with financial struggles, the airline ceased flying, and its fleet was deregistered by the DGCA on May 1, 2024.
5. Jet Airways
Closure Date: Throughout 2024
- Overview: Once one of India’s largest carriers, Jet Airways attempted a comeback after its initial collapse in 2019.
- Challenges: Persistent financial issues and regulatory hurdles thwarted its revival. Despite efforts by new investors, the airline could not resume operations.
Broader Trends and Challenges
The loss of these airlines underscores several persistent issues in the aviation industry:
- Economic Pressures: Rising fuel costs and post-pandemic financial recovery proved too challenging for many carriers.
- Engine Supply Chain Disruptions: Airlines like Go First faced operational disruptions due to delays in receiving critical Pratt & Whitney engines.
- Competitive Markets: Low-cost carrier expansions often squeezed smaller or struggling airlines out of the market.
- Legacy Debt: Many airlines, such as LIAT and Jet Airways, faced debts accumulated during the pandemic and earlier crises.
Despite these losses, the aviation industry continues to evolve. The emergence of replacements like KM Malta Airlines and LIAT20 signals resilience. Additionally, strong passenger demand provides hope for airlines that can adapt to shifting economic and operational landscapes.
As we bid farewell to 2024, the stories of these airlines remind us of the challenges and dynamism of the aviation world, paving the way for innovation and growth in the years to come.