CALGARY, AB, Feb. 22, 2024 (Globe Newswire) — Lynx Air (Lynx), a low-cost carrier serving destinations throughout Canada, the United States and Mexico, today placed its first flight order. He asked for it and announced that he had obtained it. Creditor Protection by the Court of King’s Bench of Alberta under the Companies Creditor Arrangement Act (“CCAA”).
Over the past year, Lynx Air has faced a number of significant headwinds, including rising operating costs, rising fuel prices, exchange rates, increased airport fees, and a challenging economic and regulatory environment.
Lynx, an ultra-low-cost carrier, launched its first flight in April 2022 and has expanded its fleet and destinations, doubling its passenger numbers over the past two years. However, despite significant business growth, continuous operational improvements, cost reductions and efforts to explore divestitures and mergers, the challenges facing the company’s operations have become significant and insurmountable.
In connection with the commencement of legal proceedings, Lynx Airlines has decided to cease operations as of 12:01am MT on Monday, February 26, 2024, and flights will continue to operate until that time.
Every effort is being made to support passengers at this time. Passengers with existing reservations are advised to contact their credit card company to secure a refund for pre-booked travel. Additional information for Lynx customers can be found on this Frequently Asked Questions page (https://www.flylynx.com/en/faq-lynx).
Lynx would like to express our sincere gratitude to our loyal customers, dedicated employees, and business partners for their commitment and commitment to the company.
Osler, Hoskin & Harcourt LLP is acting as legal advisor to Lynx Air. FTI Consulting Canada Inc. has been appointed her CCAA monitor (the “Monitor”). Additional information related to the CCAA litigation is available on Monitor’s litigation website at http://cfcanada.fticonsulting.com/lynxair.
