Holiday airline declares bankruptcy, all flights canceled | Official Website of Louis Velazquez, entrepreneur, finance guy and tech innovator

Airlines that filed for bankruptcy or shut down in the first three weeks of 2026 include charter and cargo airline Royal Air Philippines, Indian charter carrier Dove Airlines, Swedish airline H-Bird, and U.S. charter carrier Tailwind Air.

Similar problems of not being able to bring in the necessary traffic on highly competitive routes plagued all four, despite their markets being in very different parts of the world. In the case of Tailwind Air, it filed for Chapter 11 protection after losing its AOC license due to lack of funds in January 2025 and struggled to find an investor to help turn its situation around.

In December 2025, French holiday airline Air Antilles also canceled all of its flights after French aviation regulatory agency Direction de la Sécurité de l’Aviation Civile revoked the carrier’s operating license amid a failed safety audit.

Air Antilles declares itself insolvent, asks French court for receivership

Based out of Pointe-à-Pitre International Airport in Guadeloupe (PTP), Air Antilles was launched in 2002 as a holiday airline flying to the Caribbean French Antilles islands of Guadeloupe, Martinique, Saint-Barthélemy, and Saint-Martin.

Since December, Air Antilles website visitors see a pop-up stating that all flights “have been temporarily suspended until further notice.”

On Jan. 16, board of directors chairman Louis Mussington sent employees a letter stating that the airline had declared itself insolvent and was forced to turn to bankruptcy court, as reported by French outlet Capital.

Prior to the January announcement, Air Antilles avoided formally filing for bankruptcy while reassuring travelers that the cancellation of flights was a temporary blip that it would work out.

Air Antilles is a French airline serving the Caribbean archipelago of French Antilles.

Air Antilles

“The coffers are empty”: Air Antilles chairman writes letter to staff

The last reported revenue numbers stated that Air Antilles had transported over 180,000 passengers in the last financial year and generated more than €80 million in revenue. The airline also recorded upwards of 120 employees whose jobs are now in peril.

“The coffers are empty,” Moussington wrote in the letter in the original French. “We do not have the financial means to meet our expenses.” The letter then goes on to state that it “will be up to the court to grant us the opportunity to restructure the company, or to rule on liquidation.”

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As first reported by Ouest France, Moussington cited the grounding of the planes after the revoked AOC license as the final blow, leaving it unable to generate new funds and complete needed safety audits.

“There was no income,” Moussington said. “There was no revenue because of the measures imposed by the regulatory authority.”

These airlines filed for bankruptcy in 2025:

Spirit Airlines (Spirit Aviation Holdings, Inc.): Filed for Chapter 11 bankruptcy for the second time on August 29,2025.
Ravn Alaska: Ceased operations in August 2025 after earlier Chapter 11 proceedings; shut down flights and folded into other operations such as New Pacific.
Corporate Air: Filed for Chapter 11 bankruptcy (restructuring) in September 2025 as part of a planned sale, according to Bondoro.
Play Airlines: The Reykjavik-based airline shut down operations and entered involuntary bankruptcy in September 2025.
Braathens Airlines:The airline was forced to file for bankruptcy and canceled all of its flights in September 2025.

The airline submitted a plan for passing the safety audit and improving its cash flow back in December, but as Moussington explained further, “No one has commented on whether or not the license will be reinstated.”

A business court in Pointe-à-Pitre has been assigned to the case and will rule on how the airline should proceed.