The airline has officially shut down and ceased operations as of May 2025 following a failed business model and blocked merger.

The company has ceased all operations and entered liquidation; investors are now focused only on the recovery value of physical assets for creditors.

The company is considered 'done' following a failed merger and mismanagement, leading to total operational collapse.

Preparing to cease operations after a rescue deal collapsed; cited as a warning for distressed asset plays.

Facing high risk of liquidation or total loss of equity value due to bankruptcy, debt load, and rising operational costs, though government intervention is a slim possibility.

Facing financial distress and bankruptcy restructuring risks due to high fuel costs and a price-sensitive customer base; potential government bailout mentioned.

Described as a 'zombie company' seeking government bailouts; investment is discouraged unless participating in vulture-style bankruptcy restructuring.

Mentioned within a distinctly negative discussion of the airline industry, which is characterized by poor customer experience and operational issues, suggesting a bearish signal for the stock.