In the latest of a series of recent European airline failures, Lithuania-based leisure operator Small Planet Airlines has ceased operating.

The carrier, which had been affected by the knock-on effects of its Polish and German sister airlines hitting financial difficulties, was undergoing restructuring.

In a message on its website headed “Thank you for being with us,” the airline it posted a brief statement: “Small Planet Airlines flights are not operating any more. If you have flight scheduled for Small Planet Airlines: please contact your tour operator for rebooking. We say a big ‘thank you’ to all passengers who were with us for more than 10 years.”

A statement on the website of the Lithuanian civil aviation regulator, the National Aviation Administration, said Small Planet’s operating license had been suspended from 00.01hrs Nov. 29.

The Lithuanian company operated a fleet of eight Airbus A320s. Combined with its various subsidiaries, that number rose to more than 20 A320-family aircraft.

Over the past three months, both its Polish and German subsidiaries reported financial problems, with the former entering an “accelerated arrangement” restructuring process and the latter launching insolvency proceedings. The company said that while the Polish and German operations had been loss-making, it continued to operate successfully.

Two weeks later, however, it, too, said it had filed for a restructuring process under Lithuanian law, adding that it was seeking a new investor.

Alan Dron, alandron@adepteditorial.com