This is a developing story. Check back to Aeronautics Online as this story develops.

BREAKING: Primera Air Nordic and Primera Air Scandinavia announced on Monday that they will file for insolvency on Tuesday, October 2nd, 2018.

Primera Air had just blossomed into the low-cost transatlantic market. It planned to open multiple routes next year. The airline flew from London to New York along with Boston and Washington D.C. but these routes will all be ended October 2nd.

The Civil Aviation Authority has confirmed Primera Air’s bankruptcy claim. The airlines made the decision to cease operations after failing to find long term funding that would have allowed flights to continue.

Primera Air blames its financial troubles on slow delivery of A321LR aircraft from Airbus. The airline had to lease aircraft from Euroatlantic to fit its needs.

“Weighting the potential losses due to future delivery delays … and bearing in mind the difficult environment that airlines are facing now due to low prices and high fuel costs, we have decided to cease operations now,” Primera Air said.

One of Primera Air’s aircraft has been impounded at Stansted Airport.

The operation of Boeing 767-300s drove up costs, making long term service uneconomical for Primera Air. The company’s employees will all be repositioned. Check back to Aeronautics Online as this story develops.

Primera Air has been showing signs of financial troubles for some time. Earlier this year, it cancelled multiple routes from Birmingham Airport before cutting the hub from its network entirely.

Passengers who booked a flight with Primera Air through a travel agency will have to go back the same agency to get a refund or a new fight. Other passengers will need to make a claim with their credit card companies or banks.

Passengers who were owed compensation for previous Primera Air services that were cancelled may be unable to claim this compensation from the airline.

Featured image by Primera Air via Twitter