Sweden’s Braathens Regional Airlines (BRA), which recently went into administration, has taken delivery of its first Airbus A320 and will be adding two more of the type in November.
Stockholm Bromma-based BRA applied for court-led financial reorganization on Oct. 19, taking seven of BRA’s 13 businesses into bankruptcy protection. BRA CEO Ulrika Matsgård said the airline’s operations will continue as normal throughout the restructuring.
As part of its bid to improve its finances, BRA started performing flights for tour operators in spring 2023. The airline secured a contract with Ving, which began in April, and has just started flying for a second tour operator, Apollo.
This growing tour operator business means BRA has just received its first A320, registered SE-RGG, joining its existing fleet of 14 ATR 72-600s and four A319s. The aircraft, which landed in Malmö on Oct. 27, has been leased from Macquarie Aircraft Leasing.
“This strategic aircraft delivery marks an important milestone in the company’s continued growth as a charter provider,” Braathens said.
The A320, which has been through an interior refurbishment, will primarily be used for the Apollo contract, flying customers between Scandinavia and Southern Europe. “In the autumn, the fleet will be further strengthened by two more Airbus A320 aircraft in November,” BRA said.
BRA cited a domestic travel slow-down, inflation, the weak Swedish krona, and delayed aircraft deliveries as reasons for its financial reorganization. This will include “several improvement measures,” as well as debt restructuring and contract renegotiations.
A creditors’ meeting has been scheduled for Nov. 8 at Solna District Court and the reorganization is expected to be concluded during the first quarter of 2024.
BRA employs approximately 500 staff, and its shareholders are Braganza, a holding company owned by Braathens founder Per Braathen, and Swedish pension company AMF. The owners have indicated that they are willing to inject new capital and consider the entry of new shareholders.
