Three airlines have gone out of business in 2026 so far (Image: Getty)
Three airlines have crashed into administration or liquidation in 2026 so far, with every single flight cancelled. UK based EcoJet was launched in 2023, promising to be the world’s first electric airline. Its fleet was made up of planes retrofitted with hydrogen powered electric engines. EcoJet had been due to start flying in 2024 with an Edinburgh to Southampton route, and had plans to expand to mainland Europe with long haul flights.
But the company has entered voluntary liquidation, with Opus Restructuring appointed as liquidators in February. Despite the headwinds, former Ecotricity founder Dale Vince OBE, who launched the firm, has vowed to continue to attempt to electrify air travel.
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Royal Air Philippines is a budget airline which began operations in 2018, with flights across Asian destinations including China, Cambodia and South Korea.
The company began life as a charter airline in 2002 and then expanded to offer commercial flights in 2018, with new Airbus A319 and A320 jets.
But as the firm has since collapsed into administration, with roughly 4,000 flights cancelled between January and March 2026. The airline is now working to give refunds to affected passengers.
A message posted on its site before it went offline said: “We are working on providing refunds and hope to resume flights at an unspecified date in the future.
“Thank you for your patience and understanding. We eagerly anticipate welcoming you aboard soon.”
Dove Airlines, based in Kolkata in India, entered voluntary liquidation in January.
The operator had not flown services since 2022, when creditors seized its last remaining Cessna Citation jet.
The company wrestled with insolvency proceedings for several years while attempting to attract new investment, but when efforts failed, the airline chose to enter voluntary liquidation under the the Insolvency and Bankruptcy Board of India.
At the same time, the escalating price of oil due to the Iran crisis has put greater pressure on remaining airlines, as jet fuel has been one of the most impacted.
Today, April 17, Air Canada announced it is to suspend services to New York’s JFK International Airport over the summer as the war in Iran creates jet fuel shortages that have sent prices soaring.
Canada’s flag carrier said on Friday that flights from Toronto and Montreal to JFK will cease on June 1 and resume on October 25.
Services to the New York metropolitan area’s two other airports — LaGuardia and Newark — will continue.
Air Canada said it will reach out to customers who are affected by the suspension with alternative travel options.
“As jet fuel prices have doubled since the start of the Iran conflict and some lower profitability routes and flights are no longer economic, we are making schedule adjustments accordingly,” a spokesman for the Montreal-based carrier said.
The average price for a gallon of jet fuel reached 4.32 dollars (£3.19) on Thursday, up from 2.50 dollars (£1.84) the day before the war in Iran broke out, according to Argus Media.
Oil prices dropped more than 10% on Friday after Iran said the Strait of Hormuz is open again for commercial tankers carrying oil from the Persian Gulf to customers worldwide.
Fuel and labour costs are typically the largest annual expenses for airlines.
Delta Air said this month that the tab for higher fuel would add 2 billion dollars to its second-quarter costs. Airlines including JetBlue and United Airlines are raising bag fees to offset skyrocketing fuel costs while others scale back services.
In an exclusive Associated Press interview on Thursday, International Energy Agency director Fatih Birol said Europe has “maybe six weeks” of remaining jet fuel supplies and said the global economy faces its “largest energy crisis”.
