Braathens Regional Airlines Completes Successful Restructure

Len Varley
Len Varley - Assistant Editor
4 Min Read
A Braathens Regional Airlines A320 on the tarmac.
Photo Credit: Braathens Regional Airlines

Braathens Regional Airlines has recently announced the successful completion of its restructuring process. This marks a significant milestone in the company’s journey towards long-term financial stability.

Creditors and the Solna district court approved the reconstruction plan on February 16th. It has now obtained full legal force, paving the way for the airline to move forward with confidence.

This achievement comes as welcome news for customers, employees, and partners. All concerned have shown unwavering support and patience throughout the restructuring process.

Regaining Operational and Financial Footing

Ulrika Matsgård, the Group CEO of Braathens Regional Airlines, expressed her gratitude to stakeholders.

“The fact that we have reached the goal with the company reconstruction is very satisfying news for customers, employees and partners who have been both supportive and patient throughout this process,” she said.

Matsgård emphasized the carrier’s commitment to offering sustainable, punctual travel options. She highlighted the aim of a high level of service both domestically in Sweden and across Europe.

Braathens Regional Airlines prioritized operational improvements and financial strengthening throughout the reconstruction process.

This has involved renegotiating customer and supplier agreements, as well as implementing various measures to improve profitability.

Additionally, existing shareholders have demonstrated their confidence in the company’s future by making a significant contribution of SEK 114 million.

Per G. Braathen, the chairman and owner of Braathens Regional Airlines, expressed his pride in the company’s achievements over 25 years. He reaffirmed its commitment to preserving Sweden’s aviation infrastructure while advancing sustainability efforts.

Having successfully completed its restructuring, Braathens Regional Airlines focuses on continuing operations across three main business areas:

  • domestic flights in Sweden,
  • charter traffic for tour operators, and
  • crewed flights for other airlines.

Notably, the airline has seen positive growth in passenger numbers. This is particularly evident in domestic routes, with a 6% increase compared to the previous year.

Furthermore, strategic partnerships, such as the recent agreement with Austrian Airlines, are held as important. These collaborations are expected to contribute to the company’s expansion and success in the coming years.

Positioning for the Future

Nils Åberg, the reconstructor overseeing the restructuring process, expressed his satisfaction with the outcome. He spoke of Braathens Regional Airlines’ ability to thrive in the future.

Building on a strong foundation and a defined growth strategy, Braathens Regional Airlines has now positioned itself well within the market. It will better navigate the challenges of the aviation industry and likely emerge stronger.

Braathens Regional Airlines’ successful completion of its restructuring process is a testament to the resilience and dedication of its team, as well as the unwavering support of its stakeholders.

As the company looks towards the future, it remains committed to providing exceptional service, using sustainable practices, and driving innovation in the aviation sector.

About Braathens

Swedish regional airline, Braathens Regional Airlines (often shortened to BRA), has its headquarters in Stockholm. It is one of the largest domestic airlines in Sweden.

Braathens Regional Airlines was founded in 2016. This consolidation aimed to unite the previously distinct appearances of Malmö Aviation, Sverigeflyg and Braathens Regional under a single brand for the Swedish domestic market.

In other words, BRA sought to streamline the Swedish domestic airline market by presenting a unified front.

BRA does not have an AOC (Air Operator’s Certificate) and any aircraft of its own. Instead it uses the capacities of its sister companies Braathens Regional Airways and Braathens Regional Aviation.


Did you know AviationSource has two newsletters? One covers the general news and analysis of the industry as a whole, and the other to do with emergencies that take place throughout the year! To subscribe to our General News Newsletter, CLICK HERE!
To subscribe to our Emergencies, Accidents & Incidents Newsletter, CLICK HERE!

Click the photo to join our WhatsApp channel so then you can stay up to date with everything going on in the aviation industry!

TAGGED:
By Len Varley Assistant Editor
Follow:
Now the Assistant Editor with AviationSource, I have almost 40 years' experience in aviation, starting in Australian flight crew and training. I worked as CFI/Chief Pilot with 2 organisations and was also a CASA approved testing officer and aeronautics lecturer. This led to components procurement for civil operators and the RAAF, and then maintenance programming with a global airborne geo-survey operator.