Airline shuts down after losing license, last flights canceled

Core Insights - The Air Operator's Certificate (AOC) is essential for airlines to operate, granted by the aviation regulatory authority of each country [1][2] - In 2024, approximately 30 new airlines received AOCs, a slight decrease compared to previous years due to economic downturns [3] - Airlines can lose their AOC due to failed safety audits or bankruptcy, with recent suspensions including Armenian Airlines and Jet.Paris [4] Airline Bankruptcies - SmartLynx Estonia ceased operations in November 2025, leading to the sale of its AOCs for Latvia, Estonia, and Malta to a Dutch hedge fund [6] - The AOC for SmartLynx Airlines in Estonia was revoked on December 18, 2025, amid ongoing court restructuring [7] - Other airlines that filed for bankruptcy in 2025 include Spirit Airlines, Ravn Alaska, Corporate Air, Play Airlines, and Braathens Airlines, with various operational shutdowns and restructuring efforts [8]