A Canadian low-cost airline, Lynx Air, announced Thursday that it has filed for creditor protection from the Court of King's Bench of Alberta and its final flights will take place on Sunday, according to Xinhua.
The company said on its website that it will cease flight operations as of 00:01 a.m. (0601 GMT) next Monday.
"The compounding financial pressures associated with inflation, fuel costs, exchange rates, cost of capital, regulatory costs and competitive tension in the Canadian market have ultimately proven too steep a mountain for our organization to overcome," the company said.
Privately owned, Lynx launched its first flight in April 2022, becoming the latest low-cost airline to join an already crowded market in Canada.
