3 Airlines Have Shut So Far in Oct 2018 Across Europe

As business conditions continue to deteriorate globally, 3 airlines (4 if you include a subsidiary in Latvia) have shut in the month of October 2018 alone.

Primera Air was the first shut on 2 Oct 2018 in Denmark along with a subsidiary in Latvia. They had a fleet of 7 planes serving 41 destinations operating since 2003.

Primera Air Shuts Down, Ceases Operations, Strands Customers and Employees

Second one to collapse was a small airline with 2 planes operating since 2009 in Birmingham, UK on 12 Oct 2018.

Cello Aviation shuts down

Then on 16 Oct 2018, another one shut down in Cyprus.

They had 6 planes serving 23 destinations since June 2016.

Passengers stranded as Cobalt flights grounded

Several banks will lose millions of dollars while hundreds of employees are now jobless with much lower competition amid less number of flight options.

Ryan Air in Europe also issued a profit warning this week.

Last year Monarch Airlines collapsed in Europe along with Air Berlin.

From Cathay Pacific to Singapore Airlines to Etihad, major global airlines are firing employees and  losing billions.

We expect a major airline to collapse in the Middle East as well as in India over the next few months.

But don't be surprised if it happens in some other country first.