11 airlines have gone out of business in the last 12 months - here's the full list

• The year 2019 was tough for airlines. So far, it looks like 2020 will be the same.
• Airlines around the world saw a range of bankruptcies, liquidations, and failures, with many forced to shut down in 2019.
• Air Italy announced it is liquidating February 11, ending what initially looked like a promising venture when the airline launched in 2018.
• Here are the airlines we've lost throughout 2019 and 2020.
• Visit Business Insider's homepage for more stories.

The last 12 months have been filled with highs and lows for the airline industry.

On the one hand, established players like Delta Air Lines and United Airlines have seen strong growth, customer loyalty, and new opportunities - - in some cases, setting records. Even some budget airlines like Norwegian Air have seen headwinds dying down, stabilizing finances, and an end to maintenance disasters.

On the other hand, the past two years have been a bloodbath. Tons of airlines have gone out of business, some of which were well-known around the world.

Bankruptcies caused by flawed business models, tight competition, bad management, and unexpected costs caused them to shutter operations and, in some cases, go into administration and completely sell off assets.

Costs associated with the Boeing 737 Max grounding and required inspections and repairs on certain Boeing 787 Dreamliner engines were another pain point.

"2019 has seen the fastest growth in airline failure in history," airline consulting firm IBA told Reuters last October.

The year 2020 looks to be off to a similar start, with Tuesday's news that Air Italy will shutter less than two years after starting operations.

Here are the commercial airlines that have been forced to close their doors and fold up their wings.