Royal Air Philippines was the first airline to formally cease operations in 2026 amid Chapter 7 bankruptcy liquidation, according to TheStreet.com.
The airline, which is commonly referred to as Royal Air, confirmed that it was canceling all commercial flights on January 4, which left an estimated 3,000 to 4,000 travelers with scheduled flights through March 2026 having to seek alternate options. Royal Air said it was looking to “welcoming you aboard soon,” however, is reported to be facing financial struggles that make a potential total shutdown increasingly likely.
Royal Air was founded in 2002 and received licensing to run commercial flights in 2017, having eventually expanded to international destinations such as Cambodia, China, South Korea, Hong Kong and Taiwan. But the airline eventually transitioned to a low-cost carrier model amid financial struggles, having seen signs of recovery with an estimated 100,000 to 116,000 international travelers in 2023 and 2024, before ultimately dropping to 51,800 international passengers in 2025, according to NationalWorld.com.
The Indian charter carrier Dove Airlines was also reported to have opted for voluntary Chapter 7 bankruptcy liquidation in 2026 after multiple attempts to improve its finances, according to TheStreet.com. The airline hasn’t operated flights since losing its last Cessna CitationJet/CJ/M2 jet to creditors in 2022 after the manufacturing company Usha-Martin divested half of its stake in the company amid sustained financial losses in 2015.
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