The Norwegian airline Flyr has failed to raise capital, which is now leading the board to consider what remaining options are available to save the company, according to a press release.

The liquidity situation is severely strained in the short term and there is no guarantee that a solution will create a favorable solution for shareholders, Flyr continues.

”"Market conditions, continued uncertainty regarding air traffic and financial results in 2023 have significantly weakened investors' willingness to invest," the company writes.

Flyr was founded in 2020 by Erik Braathen, former CEO of the defunct Norwegian airline Braathens.

Source: Dagens Industri