BRA files for bankruptcy protection
BRA -Braathens Regional Airlines announced on 19 October 2023 that it has filed for bankruptcy protection with the Swedish authorities in order to conduct a financial restructuring. The company said the operations would continue as normal while the airline tries to put things in order.
It's the second time the airline is doing a restructuring, the previous one during the pandemic and the airline halted all flights. Now, the company needs to restructure due to lower domestic demand, an increase of costs, and higher interest rates.
The history of Braathens goes all the way back to 1946. Yearly, the airline carries more than a million customers. BRA has two airlines in the holding, BRA -Braathens Regional Airlines that operates a fleet of fourteen ATR72-600s, and Braathens International Airways, which has a fleet of four Airbus A319s and will introduce its first A320 soon.
Photo by Anton Homma.