Key takeaways
- The Slovakian airline permanently ceased operations on Nov. 10, 2026
- AirExplore reported a €22.4 million loss in 2025
- The closure follows restructuring at parent company Avia Solutions Group
Slovakian airline AirExplore has permanently ceased operations after 16 years. It is now the latest European carrier to shut down due to growing financial pressures in the aviation industry.
The airline stopped flying on Nov. 10, 2026, and submitted a request to surrender its Air Operator Certificate (AOC), effectively ending its commercial flight operations.
Why Did AirExplore Shut Down?
AirExplore did not officially disclose the reason behind its closure. However, its financial difficulties had become more apparent over the past few years.
The Bratislava-based airline reportedly recorded a net loss of €22.4 million in 2025, nearly double the €12 million loss reported in 2024. Despite generating approximately €109 million in annual revenue, the company struggled with operating costs and challenges in its cargo business.
To improve its financial position, AirExplore returned two Boeing 737-800 aircraft before their leases expired and sold another aircraft to raise cash. It also withdrew two cargo aircraft after low freight rates and high fuel costs made those operations unprofitable.
AirExplore's Closure Follows Parent Company Restructuring
AirExplore was acquired by aviation services company Avia Solutions Group in June of 2023. The airline specialized in aircraft, crew, maintenance and insurance (ACMI) services, and allowed other airlines to lease fully staffed aircraft during periods of increased demand.
In February of 2026, Avia Solutions Group announced plans to integrate AirExplore's management and administrative functions with fellow subsidiary KlasJet while maintaining separate airline operations. However, the restructuring was ultimately followed by AirExplore's closure.
By the time the airline stopped flying, its fleet had reportedly been reduced to just three Boeing 737-800 aircraft, which were placed in storage.
Another European Airline Shuts Down
AirExplore's closure followed several other airline shutdowns associated with Avia Solutions Group.
Icelandic cargo airline Bluebird Nordic ceased operations in April of 2024. Additionally, SmartLynx Airlines Latvia stopped flying in November 2025, shortly after being sold by the group. UK-based Ascend Airways also announced its closure in April of 2026.
Meanwhile, Spanish charter airline AlbaStar also suspended operations on Nov. 10, the same day AirExplore stopped flying.
What Happens Next for AirExplore?
AirExplore's application to surrender its operating certificate marks the end of its flying operations, although there are still some questions about the future of its employees, aircraft and existing customer contracts.
Avia Solutions Group is still operating other aviation businesses, including KlasJet and Avion Express. The group also maintains a previously announced order for 40 Boeing 737 MAX aircraft, with deliveries scheduled to begin in 2030.
AirExplore's closure does not automatically affect that agreement, which was placed at the parent-company level.
