Spanish regional airline Canaryfly, which is based at Gran Canaria Airport (Gran Canaria is the largest island in the Canaries) in the Canaries, has announced that it will suspend all operations until the 21st of March due to low demand. The airline has a network of 6 routes, all within the Canary Islands and possesses 6 ATR 72-500 aircraft.
It doesn’t matter how much money the government spends on their flag carriers, because they will go bankrupt anyway. The Montenegrin government spent €198 million ($243 million) on Montenegro Airlines in total, of which €155 million ($190 million) was declared unlawful by the Montengrin government itself. The airline’s recent bankruptcy has cost Montenegrin taxpayers around €50 million ($61.5 million), along with the €100 million debt ($123 million) the airline has left in its tracks, to be paid for by the taxpayer. Instead of closing down the airline completely, and waiting for the pandemic to be over, it was decided that BIG sums must be spent on an airline (and country) which uniquely relies on the tourist industry. Well, there’s no tourist industry now. This world doesn’t want LITTLE airlines anymore. First the monopolies pushed small carriers out of scheduled flights, into mainly charter operations, force prices up because of the arrival of low-cost carriers, then they pull the plug on them, and they go bankrupt. It’s big or nothing… take your pick. NOBODY is funding little airlines, only government-owned carriers and airline monopolies are getting billion-dollar loans. There is so much corruption in the airline industry, it’s not even a question of bankruptcies anymore. Mismanaged funding, loans no airline can pay back, debt, the 737 MAX programmer hoax, revoking of AOCs for no reasons, sanctions, you name it, this is ridiculous. 8th of January 2020.
Aeronews24 