FlyerTalk Forums - View Single Post - Flyr dialling down for the winter of 2022-23

Feb 1, 2023 | 9:29 pm

#5

AirborneLocksmith

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Join Date: Oct 2022

Location: Sub Carolina

Programs: AC, AA, TK, OW Emerald

Posts: 1,579

Flyr's Bankruptcy: What Went Wrong?

Launching in the middle of a global health pandemic was always going to be risky, and the airline repeatedly turned to investors to keep the cash flow coming. According to data supplied by the airline, Flyr's load factors at the end of 2021 reached approximately 54% - far below what would have been required to keep the airline in the black.
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Despite mounting losses alongside a maelstrom of other issues which affected the airline during 2022, Flyr continued to expand, doubling its fleet, firstly to ten aircraft and then to 12 units, and extending its network to almost 40 destinations. The fleet included new Boeing 737 MAX aircraft, which are more expensive to lease than the previous generation -800.

This expansion proved to be a case of 'too much, too quick' for the airline. It continued to make heavy losses throughout the peak summer months of 2022, and by September of last year, the net losses for the first nine months of the year exceeded NOK 1 billion (US$100 million).

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