The end of an era... Airline company declares bankruptcy
Onur Air, one of Turkey's prominent private airline companies, has officially gone bankrupt and the liquidation process has begun.
12punto
The Bakırköy 2nd Commercial Court of First Instance ruled for the bankruptcy of Onur Air Taşımacılık A.Ş. on November 5, 2025. The legal liquidation process for the company, which was founded in 1992 and carried more than 90 million passengers, has been officially initiated.
The court has appointed a bankruptcy administration to manage the company's remaining assets and liquidate its debts. The bankruptcy administration has been instructed to place a bankruptcy annotation on the company's real estate and to conduct a detailed examination of all financial transactions from the last 5 years. In particular, the investigation of real estate transferred within the last 5 years stands out as a critical item.
Onur Air began experiencing financial difficulties starting in 2020 and struggled to pay employee salaries. On October 14, 2024, it was revealed that the salaries and severance pay of approximately 1,800 employees had not been paid. This situation made the company's bankruptcy inevitable.
PANDEMIC AND LICENSE REVOCATION
Onur Air, which faced financial difficulties during the pandemic, was forced to stop all flights in early 2022 after its operating license was suspended by the Directorate General of Civil Aviation. This development played a significant role in the company entering the bankruptcy process.
Onur Air was the first private airline to begin domestic flights in Turkey in 2003 when domestic air transport was opened to the private sector. With a fleet of 29 aircraft, the company operated flights to 14 domestic destinations and over 120 points in 25 countries internationally, meeting the demand for low-cost air travel and carrying over 90 million passengers.
This bankruptcy decision marks the end of an era in Turkish civil aviation.