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

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California Pacific Airlines: January 2019

California Pacific Airlines: January 2019

A regional airline based in Carlsbad, California, California Pacific Airlines only flew commercially for a few months before suspending operations. The airline says it is planning to restructure and resume flights, possibly in 2020.

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Germania: February 2019

Germania: February 2019

Berlin-based Germania started as a charter airline, but eventually grew to operate commercial service.

Fuel prices, a series of delays in summer 2018, and increasing pressure from low-cost carriers all led to the airline's failure.

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Flybmi: February 2019

Flybmi: February 2019

A British regional carrier based in North West Leicestershire, the airline was a former subsidiary of British Midland International. The airline blamed an increase in fuel and carbon costs, along with Brexit uncertainty.

Fly Jamaica Airways: March 2019

Fly Jamaica Airways: March 2019

The Kingston, Jamaica-based airline ceased operations due to a lack of aircraft five months after one of its two Boeing 767-300ER was damaged in a crash-landing in Guyana.

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Wow Air: March 2019

Wow Air: March 2019

The Icelandic ultra-low-cost carrier disrupted the transatlantic market by offering flights between North America and Europe for as little as £99, or $128, each way with a stop in Reykjavik.

Wow Air began flying in 2012 and expanded to North America in 2015.

"One of the mistakes that I made, that Wow made in the last 18 months, was that we were moving away from the low-cost model," Mogensen told Business Insider in 2019. "Most significantly we made our fleet structure unnecessarily complex with the addition of the wide-body A330 to our fleet."

Jet Airways: April 2019

Jet Airways: April 2019

Jet Airways, based in Mumbai, India, fell apart after years of steep financial losses amidst an onslaught of competition from low-cost newcomers.

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XL Airways: September 2019

XL Airways: September 2019

French carrier XL Airways (previously called Star Airlines, XL) was a leisure airline that ran out of cash and could not secure additional investments.

Aigle Azur: September 2019

Aigle Azur: September 2019

Another French carrier, Aigle Azur, tried to launch a new strategy, with new routed and planes, as early as 2018, but ultimately ran out of cash and collapsed the following year.

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Adria Airways: September 2019

Adria Airways: September 2019

The former flag carrier of Slovenia, Adria lost money in the early 2000s and 2010s and despite several reorganization attempts, was never able to recover.

Thomas Cook: September 2019

Thomas Cook: September 2019

The 178-year-old British travel company and airline collapsed after failing to secure £200 million, or about $249 million, in emergency funding following a demand from its lenders. About 600,000 holidaymakers were left stranded, leading to the largest peacetime repatriation effort in British history.

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Air Italy: February 2020

Air Italy: February 2020

Air Italy started flights in 2018, in an effort to capitalize as Italian flag carrier Alitalia struggled. Less than two years after launching its first flight, it announced on Tuesday that it would liquidate.

The airline said it would continue to operate flights through February 25. Anyone with flights after that will receive a refund after requesting one from the airline. Passengers scheduled to travel before February 25 can also request a refund instead of traveling.