A major European airline has started to proceedings to shut down this month.
Finnish airline Jetline, founded in Helsinki back in 1980, started employee consultation proceedings on June 8.
According to reports, it will let fo of 53 members of staff across its flight operations.
After the news of its closure was confirmed, the company issued a statement.
It read: "The negotiations concern the planned discontinuation of the above-mentioned businesses and the potential termination of employment of the associated personnel.
"The decisions under consideration are driven by the prolonged unprofitable performance of these businesses."
Jetflite currently operates a 2000-built, 18-seat Challenger 604, a Challenger 650 manufactured in 2020 and configured for up to 12 passengers, and a 2014-produced Falcon 7X featuring a cabin layout for up to 16 passengers.
Its planes are based out of Helsinki-Vantaa.
The Wihuri Group was founded in 1901 and employs over 5,000 people across its various businesses.
The jet fuel shortage sparked by the war in the Middle East has plunged the aviation industry into jeopardy in recent months.
A number of airlines have plunged into insolvency proceedings, including some in the UK.
UK charter airline Zenith Aviation Limited went into administration in May, causing 41 job losses.
EcoJet Airlines entered liquidation in May.
In April, Ascend Airways confirmed it was ceasing all operations.
