With the U.S.-Israeli strike on Iran and subsequent closure of the Strait of Hormuz sending the price of jet fuel up to highs unseen in years, multiple small and mid-size airlines have had to file for bankruptcy in the first half of 2026.
While the collapse of Spirit Airlines is the most high-profile, Mexican holiday carrier Magnicharters, British cargo carrier European Cargo, and Swiss regional airline Air Mountain are all among the most recent names to also shut down operations over the last few weeks.
But while most airlines have only had to deal with the anxilliary effects of war, multiple airlines in Ukraine have been directly affected by the Russian invasion of the country in 2022.
Bees Airline files for bankruptcy protection in Ukraine
Bees Airline, a local airline launched out of Kyiv in 2021, received its air operator’s certificate (AOC) in March 2021 and ran its first flight in May of the same year with the goal of expanding low-cost flights from Ukraine to various capitals in Eastern and Central Europe.
Amid the Russian invasion, leasing companies that provided Bees Airline with four Boeing 737-800 NG planes requested they be moved out of the country. The closure of Ukrainian airspace also put a protracted end to any plans to grow the airline. An airline with a similar name, Bees Airlines, is a separate unconnected low-cost carrier based out of Romania.
Related: Ukrainian airline starts flying for first time since invasion
As first reported by local press, Bees Airline filed for the equivalent of Chapter 11 bankruptcy protection in the U.S. in Kyiv Commercial Court on June 25. The bankruptcy petition was initially rejected but later granted.
While the Ukrainian government initially hoped to keep the airline out of bankruptcy until it could restart following the reopening of Ukrainian airspace, growing outstanding debts made keeping it in the current state untenable.
Shutterstock
What is happening with aviation and airspace in Ukraine during times of war
The airline’s AOC was also revoked by Ukraine’s State Aviation Service earlier this year.
A number of Ukrainian airlines that relocated out of the country amid the war, including SkyUp and Supernova Airlines, have been operating as virtual airlines out of other countries in Eastern Europe over the last four years since the start of war.
More Travel News:
- Airline to launch unusual new flight to Cayman Islands from the U.S.
- There is a very cool Irish version of swimming pigs in the Bahamas
- Unexpected country is most luxurious travel destination for 2026
- Low-cost airline launches easier way to get to Sri Lanka
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 to its operations.
- Magnicharters: The Mexican low-cost airline canceled all of its flights before later filing for bankruptcy in a shutdown that left thousands stranded.
- Starflite Aviation: Houston-based Starflite Aviation had its AOC license revoked in March 2026, amid FAA claims that owners falsified pilot training records to bypass safety audits.
- AlpAvia: Slovenian charter airline AlpAvia also shut down in March 2026 over financial problems.
- H-Bird: Charter airline H-Bird was declared bankrupt by a Swedish judge after losing its operating license at the end of 2025.
Related: Another airline shut down in bankruptcy, to liquidate
