SmartLynx Latvia declares bankruptcy
Earlier this month, Scramble reported that SmartLynx Latvia had filed for bankruptcy protection. Now, the news comes that the airline will not be revived anymore and has filed for bankruptcy.
Late October 2025, the Avia Solutions Group sold its ownership in the company to a group of Dutch investors and members of the airline's management team. Despite this deal, financial difficulties were too large to overcome.
It's now also known that the Avia Solutions Group has also sold-off SmartLynx Estonia and SmartLynx Malta. These two companies seem to be impacted as well by the collapse of SmartLynx Latvia as all there aircraft are parked.
The Avia Solutions Group did retain SmartLynx Australia and SmartLynx Thailand. Both will be rebranded soon, with the Thai-subsidiary using the name BBN Airlines Thailand. It's unclear if the one in Australia will follow.
With the sale of the European SmartLynx airlines, the Avia Solutions Group continues to have quite a large portfolio of airlines:
- AirExplore (Slovakia, fourteen aircraft in use)
- Arcus Air (Germany, two aircraft in the fleet)
- Ascend Airways (UK, seven aircraft)
- Ascend Airways Malaysia (one aircraft)
- Avion Express (Lithuania, sixteen aircraft)
- Avion Express Brasil (two aircraft)
- Avion Express Malta (37 aircraft)
- BBN Airlines Indonesia (six aircraft)
- BBN Airlines Thailand (one aircraft)
- BBN Airlines Turkiye (twelve aircraft)
- KlasJet (Lithuania, eight aircraft)
- Magma Aviation (UK, three aircraft)
- SmartLynx Australia (twelve aircraft)
Photo by SmartLynx Latvia.