Braathens International Airways has filed for bankruptcy after failing to secure financing for its Airbus operations, resulting in the immediate cancellation of charter flights for tour operators, including Ving and Apollo.
The filing was made at the Stockholm District Court and also covers Braathens Crew AB. About 200 employees are affected, all of whom are covered by the state wage guarantee.
Airbus business deemed unsustainable
Braathens International Airways was created in 2022 to operate Airbus aircraft on behalf of Scandinavian tour operators. The carrier’s Airbus fleet consisted of five aircraft, comprising two A319s and three A320s, but the venture faced repeated setbacks. Aircraft delivery delays, higher-than-expected establishment and operating costs, and declining demand from tour operators left the business under financial strain.
In 2023, the BRA group underwent a court-supervised reorganisation, with the Airbus business identified as a key source of pressure.
On August 27, 2025, the board decided to phase out Airbus operations and focus on a single type, the ATR72-600 fleet. That plan required new financing to cover the transition, but efforts to secure bridge funding proved unsuccessful despite owners investing more than SEK 300 million ($31 million) since the pandemic.
“It is with great sadness that the Board has been forced to file for bankruptcy tonight for the Airbus business,” said Per G. Braathen, chairman of the board and majority owner. “The financing that we have tried to get in place for a controlled phase-out has unfortunately not been successful, and I understand that those affected are sad, shocked and disappointed. We now have no other choice but to restructure and focus on the part of the business that can achieve long-term profitability.”
ATR72 operations unaffected
The bankruptcy does not affect Braathens’ turboprop business. Braathens Regional Airlines, Braathens Regional Airways, Braathens People, and Braathens Support are not part of the proceedings, meaning ATR72-600 ACMI operations for other airlines will continue as planned.
Union negotiations related to redundancies within the administration are now set to begin. The board stated that its priority is to preserve viable operations, fulfill existing agreements, and safeguard jobs in the long term.
