Smartlynx Airlines collapsed into administration after 33 years in business, with the company stating the decision followed a thorough assessment of its situation and long-term outlook. The airline attributed its failure to undisclosed levels of debt and an inability to formulate a feasible recovery strategy. Financial troubles had been mounting since autumn 2025, including unpaid taxes of £433,000 (€500,000) owed to the Latvian government, which contributed to the long-standing difficulties leading to the collapse.
The specific undisclosed debt levels and any attempts by other companies to acquire or rescue Smartlynx Airlines remain unclear. As a wet-lease and charter provider for European carriers, Smartlynx Airlines supplied planes to clients such as EasyJet, which applied their own branding, and recently extended its reach to India. It catered to a diverse clientele including IndiGo, AnadoluJet of Turkish Airlines, AirTransat, and DHL.
This decision comes after a thorough assessment of our situation and long-term outlook, and it was not taken lightly.
The company, based in Latvia, had significantly increased its fleet size between 2023-2024 to accommodate demand, but how many aircraft were grounded due to the cessation of operations and what will happen to the airline's employees and assets are not yet confirmed. ' The impact on its clients and the broader aviation market is still uncertain.
We started as a small Latvian airline with big dreams, and over 33 years grew into an international family known for resilience, adaptability, and a spirit that never backed down.
SmartLynx has always been built by its people - passionate professionals from all corners of the world who took on every challenge with determination.
Together, we filled the last three decades with moments that won't be forgotten: days and nights in the skies, flights all over the world, new bases opening, new teams forming, and lots of special stories.