Overview

• The shutdown takes effect on September 29, 2025 following a board decision to halt the airline’s operations.
• The company said thousands of travelers must reorganize trips and about 400 employees will lose their jobs, with partners also facing losses.
• Management will work with authorities and staff to implement wind-down measures and issued a public apology for the disruption.
• A 2024 pivot refocused the network on Europe and the Canary Islands and reduced U.S. service to New York Stewart, Boston, and Baltimore-Washington.
• The restructuring also included returning the Icelandic AOC, moving operations to a Maltese subsidiary, and shifting back-office functions to Malta and Lithuania.