SmartLynx Airlines Latvia has announced it is ceasing operations, marking a dramatic end to more than three decades in the skies and leaving employees reporting unpaid wages and, in some cases, being stranded overseas. The ACMI and charter carrier confirmed the shutdown following weeks of escalating financial turmoil, culminating in a bankruptcy filing and the collapse of its business.

In an emotional statement, the airline said the decision followed a “thorough assessment” of its long-term outlook. What began as a small Latvian carrier grew over 33 years into a global operation known for contract flying, wet-leasing and seasonal charter services. The company described its workforce as the backbone of its growth, highlighting “days and nights in the skies” and milestones built by “passionate professionals from all corners of the world.”

But behind the nostalgic farewell, employees have painted a far bleaker reality. Crew members took to social media alleging they had not been paid for weeks as the airline’s finances deteriorated. Several reported being stranded abroad, including in Vietnam, after flights and positioning duties were suddenly cancelled. With no repatriation arranged, some were forced to fund their own travel home as the company halted operations.

The collapse marks the end of a turbulent month for the airline. On 22 October, ASG Group, owned by Lithuanian businessman Gediminas Žiemelis, sold SmartLynx Airlines Latvia. Days later, on 28 October, the airline filed for creditor protection, seeking temporary relief as it attempted to stabilise operations. By 24 November, it confirmed the shutdown was permanent.

Publicly available financial information suggests the scale of the carrier’s difficulties. SmartLynx Latvia reportedly leaves behind an estimated €240 million in total debt, along with around €500,000 in unpaid taxes owed to the Latvian state. For an airline long relied upon by major carriers for ACMI and charter capacity, the sudden unraveling has raised new questions across the European aviation market about oversight, liquidity resilience and contractor dependency.

As the dust settles, former employees are demanding answers and assistance, while partners and clients assess how the closure will affect winter and summer season capacity plans. SmartLynx’s statement closes with gratitude and a hopeful nod to its legacy, but for many of its staff, the priority now is more practical: recovering unpaid wages and trying to get home.