newstodate.aero

Oct 20, 2023 (newstodate): The aviation industry certainly moves in mysterious ways - with charter business no exception.
   By the end of this month, the Swedish charter carrier Novair with two Airbus A321neo becomes part of history, albeit till the end in a strong financial situation with no debts, a sound cash balance, and a secured income till the end of the S'23 schedule.
   However, Novair lost its key contract with tour operator Apollo that has instead turned to the Swedish carrier BRA, Braathens Regional Airlines, to provide Airbus A320 capacity for its charter operations under a three-year contract taking effect from the end of October 2023 as the contract with Novair expires.
   Now shortly before taking over the Apollo contract, BRA is applying for financial reorganization, a process similar to the US Chapter 11 procedure.
   BRA insists, however, that the coming financial reorganization will not affect its customers; all flights will operate according to plan, and operations will continue as usual.
   Still, this is not the first time BRA has run into difficulties; because of the declining market for air transportation as the Coronavirus dug in, BRA was forced to suspend all flight operations from April 6, 2020, and was back into the air again only from Q1/2021 after obtaining financial support in the form of state-granted credits allowing it to reopen services.
   With a confirmation of its plea for protection still pending, BRA is now close to take over the first of four Airbus A320 aircraft ordered and allocated to cater to the contracts with Apollo and Ving.