Romanian air carrier Dan Air files for insolvency but keeps flying

On the same day, Animawings filed a second insolvency request after the court rejected its first application, while a separate insolvency request filed by its creditors remained pending.

Dan Air CEO Matt Ian David explained that the airline had filed for insolvency to protect itself from enforcement proceedings over the debt, which falls due on October 25, Ziarul Financiar reported.

“We are going to have a debt due to them, which we cannot pay, and to protect ourselves from foreclosure we chose this path. We discussed with the leasing companies with which we have a contract for the aircraft, as well as with the other partners, and we reached an agreement to continue supporting our operation. We are not stopping operations in any way; we are protecting ourselves from a debt,” Matt Ian David told ZF.

The CEO said the debt relates to the failure to surrender mandatory carbon allowances. Airlines are required to surrender allowances covering their emissions under the applicable emissions trading rules. Failure to comply can result in the accumulation of outstanding liabilities and penalties of around EUR 100 per tonne of emissions.

Matt Ian David said Dan Air had not purchased the required allowances since 2024.

The obligation to cover emissions existed in previous years, but the aviation industry has been hit hard this year by rising fuel prices.

“With fuel costs now prohibitive, there’s nothing left to pay. We chose to operate scheduled flights, to serve passengers instead of cancelling them to pay our environmental debt. This year we had to choose what we pay for – fuel or certificates – and we chose fuel,” Matt Ian David said.

He stressed that the insolvency proceedings would not lead to the suspension of the airline’s activities and that Dan Air would continue operating its scheduled flights.

“Our insolvency does not mean stopping operations; we have the consensus of the leasing company and partners,” he added.

Animawings filed second insolvency petition.

Romanian airline Animawings has filed a second insolvency petition after a court rejected its initial application last week for failure to submit certain documents, Economica.net reported.