With many smaller airlines relying on wet lease partners to maintain their operations, these partners’ financial troubles can immediately cause a ripple effect for what in some cases can be a critical airline for an underserved destination.
When Icelandic low-cost carrier Play filed for bankruptcy and shut down in September 2025, the travel company that sold travelers tours that included tickets with the airline was left severely incapacitated and ended up having to follow suit a few months later.
On Apr. 27, British wet-lease operator Ascend Airways voluntarily surrendered its air operator’s license (AOC) over what its owners called a “challenging outlook” and “structural challenges” around the Iran war going into the summer. The airline has a registered fleet of six Boeing 737 Max planes that it would use to run flights for airlines such as TUI Airways, Oman Air and Air Sierra Leone.
Air Sierra Leone cancels London flights over Ascend Airways bankruptcy
Established as the new flag carrier for the West African nation in 2024 after other national airlines went defunct, Air Sierra Leone did not own any of its own planes but secured a wet lease partnership with Ascend Airways to run flights between Freetown International Airport (FNA) and London Gatwick (LGW) as well as a fifth-freedom route to Banjul International (BJL) in Gambia.
The airline used different wet lease partners flights to Banjul and Lagos in Nigeria from Freetown. Smaller airlines without the aircraft to run certain routes themselves will typically work with a wet-lease partner who supplies the necessary aircraft, crew and licensing for flights that run under the paying airline’s brand.
Related: Another airline shuts down over Iran war, all flights off
With Ascend now shut down indefinitely and facing liquidation, Air Sierra Leone has been left unable run any of its routes to the United Kingdom.
These airlines shut down in 2026:
- Magnicharters: While not yet fully shut down, Mexican low-cost airline Magnicharters canceled all flights until May 2026 in a shutdown that left thousands stranded.
- Starflite Aviation: Houston-based Starflite Aviation had its AOC license revoked in March 2026, amid FAA claims that owners falsified pilot training records to bypass safety audits.
- AlpAvia: Slovenian charter airline AlpAvia also shut down in March 2026 over financial problems.
- H-Bird: Charter airline H-Bird was declared bankrupt by a Swedish judge after losing its operating license at the end of 2025.
On Apr. 29, passengers with booked travel reported receiving a message warning of the “significant impact” on the national airline’s operations.
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Air Sierra Leone “sincerely regrets to inform our valued customers” of canceled London flights
“Air Sierra Leone sincerely regrets to inform our valued customers that our aircraft provider for the London-Freetown and London-Banjul routes, Ascend Airways, has entered bankruptcy and liquidation proceedings, resulting in the immediate cessation of its operations,” the message reads. “This unforeseen development has had a significant impact on our flight operations.”
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All of the airline’s London flights will now remain suspended throughout May 2026 as the carrier looks for an alternative wet-lease partner.
The airline also confirmed that passengers with disrupted travel will receive either refunds or rebooking alternatives but the collapse of a key partner significantly disrupts the airline’s ability to stay in business as well as connectivity between this part of western Africa and Europe upon which many members of locals and diaspora members rely.
“Please be assured that Air Sierra Leone remains well-funded, and we are actively discussing alternative aircraft arrangements with several operators,” Air Sierra Leone Chief Operating Officer Sukhjinder Mann said in a further statement. “While we anticipate returning to the skies very shortly, we have taken the decision to suspend flights throughout May to allow sufficient time for the new aircraft to be registered with the relevant civil aviation authorities in Sierra Leone, the United Kingdom, and The Gambia.”
Related: Another luxury travel company declares bankruptcy, cancels all trips
