Low-cost Lynx to halt flights, enters creditor protection

Low-cost Canadian airline Lynx Air said it’s entered creditor protection and will cease operations on Feb. 26. 

The Calgary-based carrier, which launched in April 2022, had unsuccessfully sought a sale or merger and cut costs, but cited a difficult regulatory environment and rising costs in fuel and airport charges, in the announcement Thursday.

Singapore-based aircraft lessor BOC Aviation Ltd. separately said it owned three of Lynx’s nine Boeing 737 Max 8 aircraft. The lessor plans to work with Lynx’s sponsor, private equity group Indigo Partners, to retrieve the aircraft.

BOC said on Friday in a statement that it anticipates no issues in finding new airlines for the jets, which are all less than one year old, citing the high demand for new-generation planes.

Both Boeing Co. and Airbus SE are struggling to keep up with deliveries of new jets at a time some models of plane powered by RTX Corp.’s Pratt & Whitney engines are being grounded by the dozen.