Breaking news out of Turkey this afternoon as several local media outlets have suggested that the airline has filed for bankruptcy. AtlasGlobal has suffered some significant financial difficulty in recent months, and now it seems it’s coming to an end.
AtlasGlobal has been covered by Simple Flying a couple of times in the last few months. The Turkish carrier has not been having the best of luck when it comes to its finances. As a result, the carrier had previously suspended operations temporarily.
While operations were later resumed, the airline was forced to suspend operations again around a month ago. It seems as though now things have reached a tipping point as local Turkish media is reporting the airline has filed for bankruptcy.
What do we know?
Well, for a while now, we have known that Atlas global has been in financial difficulty. In November last year, the Turkish airline suspended its operations effective the 26th. Following a 26-day suspension, flights were resumed just before Christmas. However, in January we reported that AtlasGlobal had stopped selling tickets for its scheduled flights again.
Then, slightly later in January, we again reported the suspension of operations. This was due to last until the 9th of February. However, local Twitter user HavArenaMedya spotted that the airline appears to have filed for bankruptcy. They reported that staff have been asked not to come into work tomorrow:
BREAKING l AtlasGlobal announces its bankruptcy 😔✈️
After the company's meeting, AtlasGlobal asked his staff not to come to work from tomorrow.
No ticket sales are observed on AtlasGlobal’s website. pic.twitter.com/NahCB5L0IX
— HavArenaMedya (@HavArenaMedya) February 12, 2020
This is backed up by local sources including TurizmGuncel, which has reported that AtlasGlobal staff have not been paid for the past three months. When investigating AtlasGlobal’s website, Simple Flying was unable to find a flight for sale, however, there is no official notice of bankruptcy at this time.
Second airline collapse in two days
AltasGlobal’s bankruptcy is the second in as many days. Just yesterday, we reported that Qatar backed Air Italy had filed for liquidation. Although Air Italy flights until the 26th of February will be operated as planned, the same cannot be said about AtlasGlobal. Reports are suggesting that the Turkish carrier will suspend flights immediately.
What if I had flights booked?
If you are expecting to fly with AtlasGlobal, it would still be worthwhile waiting for official confirmation from the airline that it has filed for bankruptcy. However, judging by the number of comments posted on previous AtlasGlobal articles on Simple Flying, it seems as though people have already had difficulty trying to secure a refund.
It’s worthwhile checking whether your travel insurance or the credit card that you booked flights with covers for airline insolvency. If so, they will be prepared to help out. However, if you do not have such a cover, it is possible that the money spent on flights may have been lost.
Were you due to fly with AtlasGlobal? What do you make of the news? Let us know your thoughts in the comments below.