Swedish regional NextJet has filed for bankruptcy and canceled all flights from May 16.

“We regret the situation. Pending the appointment of a bankruptcy trustee, the carrier is making decisions about the company’s future … our customer service is closed until further notice,” the airline said in a statement.

NextJet’s financial problems are not new. In November 2017, Swedish regulators restored the full air operator’s certificate (AOC) for NextJet, replacing the temporary certificate that was issued because of financial concerns.

Swedish CAA Transport Styrelsen downgraded NextJet to the temporary AOC in August 2017, with an expiration date of Nov. 17, giving the airline time to sort out its finances.

Since then, four new shareholders each injected SEK10 million ($1.2 million) into the company—for a total of SEK40 million—and implemented other measures that included selling one aircraft. All together, these measures were intended to strengthen NextJet’s financial position by around SEK70 million last year.

According to its website, NextJet operated 10 Saab 340s and four British Aerospace ATPs from Stockholm, Gothenburg (Sweden) and Helsinki (Finland) to smaller cities in Sweden and Finland.

The suspension of operations will leave several Swedish airports without scheduled passenger services.

Kurt Hofmann, hofmann.aviation@netway.at