Another budget airline has reportedly collapsed, following the recent shutdown of Spirit Airlines. Magnicharters, a low-cost Mexican carrier, has filed for bankruptcy protection in Mexico City. The airline grounded all flights last month, initially claiming a temporary suspension, which turned into a permanent halt.

Similarly, Zenith Aviation Limited, a prominent UK chartered airline, has also ceased operations recently. Magnicharters faced operational challenges leading to flight cancellations and had its Air Operator Certificate temporarily revoked due to financial issues like technical support, maintenance, spare parts, and staff training.

As of Friday, Magnicharters had not issued any public statement, with its website displaying no available flights and redirecting customers to a helpline for inquiries. Spirit Airlines, valued at $5.5 billion, ended all operations on May 2 after unsuccessful attempts to recover from bankruptcy. The airline’s CEO acknowledged the company’s role in making travel affordable for over three decades.

Despite efforts to reduce costs and negotiate with unions and potential financiers, Spirit Airlines could not avoid shutting down. The airline’s closure left many customers in search of alternative affordable travel options. Spirit’s lawyer expressed regret to price-conscious passengers who relied on the airline for affordable air travel over the years.