Major airline closes down after plunging into administration – £206m in debt | UK | News | EUROtoday

A serious airline plunged into administration after greater than three many years within the skies, forsaking £206million in debt. Smartlynx Airlines, from Latvia had entered monetary misery earlier within the autumn of 2025.

These efforts failed to avoid wasting the airline, as undisclosed debt ranges and the shortcoming to safe a viable restoration plan led to the shutdown of its operations and the withdrawal of many plane. The airline was well-known for offering European airways, comparable to EasyJet, which might add their very own branding to the in any other case white planes. The airline had even expanded its operations as far afield as India lately.

In 2023–2024, the airline expanded its fleet dimension dramatically to satisfy demand, carrying greater than 10 million passengers in a single yr and serving prospects comparable to IndiGo, Turkish Airlines’ AnadoluJet, AirTransat, DHL and others by way of customised ACMI and constitution providers.

However, on November 24 2025, the corporate confirmed it might shut down operations totally, forsaking £206m (€240 million) in debt and £433,000 (€500,000) in unpaid taxes owed to the Latvian state.

The closure marks the tip of one in every of Europe’s extra established wet-lease and constitution suppliers after 33 years of operations.

In a press release, the airline mentioned: “This choice comes after a radical evaluation of our scenario and long-term outlook, and it was not taken frivolously.

“We started as a small Latvian airline with big dreams, and over 33 years grew into an international family known for resilience, adaptability, and a spirit that never backed down.

Leaving behind a “true legacy” the airline thanked their thousands of colleagues. The statement added: “SmartLynx has always been built by its people – passionate professionals from all corners of the world who took on every challenge with determination.”

“Together, we crammed the final three many years with moments that received’t be forgotten: days and nights within the skies, flights all around the world, new bases opening, new groups forming, and plenty of particular tales.

“These moments, created by hundreds of devoted colleagues over three many years, are the true legacy of SmartLynx. To our groups, companions, purchasers, and associates – thanks.”