On Sept. 14, Latvian flag carrier AirBaltic filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York, citing “acute financial stress due to a combination of financial and geopolitical factors.” Specifically, the price of jet fuel has remained elevated for months following the closure of the Strait of Hormuz.
The bankruptcy judge approved AirBaltic’s proposal to continue operating as it restructures. The airline will also access €140 million (roughly $162 million USD) of a wider €350 million debtor-in-possession package it secured to avoid flight cancellations and a potential collapse, Reuters noted.
While numerous smaller regional airlines similarly filed for bankruptcy protection over the last six months, AirBaltic’s filing stood out, given that it’s a national carrier of a European country.
Congo Airways sets flight restart date after cancellations, bankruptcy
A national airline that is currently in a state of full shutdown is Congo Airways.
The state-owned flag carrier of the Democratic Republic of the Congo (DRC), Congo Airways has operated since its launch in 2015. But like all carriers based out of the country, it is currently banned from flying through EU airspace over persistent shortcomings in enforcement of aviation safety standards and regulations, Bankable reported.
No local carriers currently have direct air links with the U.S.
Related: That ferry between Scotland and France won’t be sailing anytime soon
Leaving the large country in Central Africa without reliable air service, Congo Airways has not operated any flights since 2024 after accumulating millions of dollars in snowballing debt.
Missed lease payments, chronic mismanagement, a deteriorating fleet, engine problems, and aging infrastructure led it to permanently ground aircraft, including the Airbus A320-200 and Embraer ERJ-190.
Congolese public officials had previously referred to the state-owned airline as bankrupt, TheAfricaReport confirmed. Congo Airways was formed in 2015 to replace the former state-owned airline, Lignes Aériennes Congolaises, which was also declared bankrupt in 2013.
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What is happening with Congo Airways in 2026
While the airline previously powered past a 2025 restart date, a Congo Airways return now looks more likely.
The carrier recently took delivery of a leased Airbus A320 plane from South African charter aviation company Global Aviation Operations, DiecastAircraftforum indicated.
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The local DRC transport ministry has pushed for a restart amid the challenges and embarrassment around the lack of a state-owned airline.
A separate Embraer E190 was acquired in 2015 using funds from the country’s national social security fund (CNSS).
DRC President Félix Tshisekedi has also ordered top government officials to create a recovery plan and provide progress updates, according to TRTAfrika.
Airlines that filed for bankruptcy in 2026:
- Spirit Airlines: The largest airline shutdown of the year occurred when Spirit Airlines canceled all remaining flights on May 2. Although the airline had filed for Chapter 11 protection twice before, the skyrocketing price of jet fuel dealt the final blow.
- Magnicharters: The Mexican low-cost airline canceled all flights and eventually filed for bankruptcy protection in May 2026 amid mounting financial pressures.
- Starflite Aviation: The Houston-based carrier had its AOC license revoked in March 2026, amid FAA claims that owners falsified pilot training records to bypass safety audits.
- AlpAvia: The Slovenian charter airline shut down in March 2026 due to a string of financial problems.
Related: Another national airline files for Chapter 11 bankruptcy