European carrier that flew to South Caucasus files for insolvency protection

Image: General Authority of Civil Aviation Syria

Romania’s Dan Air has filed for insolvency protection in Bucharest, seeking protection from creditors and an opportunity to restructure as mounting financial pressures reach a critical point.

The application was submitted last week, with the carrier expressing its intention to continue scheduled operations during the restructuring process. While the court filing does not signal immediate liquidation or a cessation of trading, Dan Air’s long-term viability hinges on securing continued lessor support, stabilizing its flight schedule, and reaching a binding settlement with creditors.

Dan Air’s operational challenges have been evident in its regional expansion strategy. In May, the private Romanian carrier announced plans to connect Bucharest with the capitals of the South Caucasus. Although scheduled services to Yerevan, Armenia and Tbilisi, Georgia were slated to begin in July—alongside an application for traffic rights to Baku,Azerbaijan—the airline ultimately launched flights only to the Georgian capital. That route was suspended after just six weeks of operation.

Dan Air acknowledged that mid-tier regional carriers are currently grappling with severe headwinds, driven by sustained high fuel costs and volatile market conditions.

The airline currently operates a fleet of three Airbus A320 family aircraft leased from Aviator Capital.

Despite initial management assurances that the court filing would not disrupt operational schedules, Romanian media reports indicate that further flight suspensions have since been implemented.

Founded in 2017 as Just Us Air by Romanian pilot Dan Iuhas, the business rebranded to Dan Air in 2023. The carrier operates a hybrid business model comprising scheduled passenger flights, ad-hoc charters, and ACMI/wet-lease operations.

Prior to recent schedule adjustments, Dan Air maintained network presence linking Romania with European and Middle Eastern destinations. Out of its secondary base in Bacău, the carrier’s schedule included Barcelona, Bologna, Brussels, Dublin, London Luton, and Madrid. From Bucharest, its network targeted regional and niche markets, including Amman, Damascus, Dublin, and Valencia.