End of an era : Air Albania ceases operations after 7 years as Turkish Airlines withdraws.

• Albania's national carrier, Air Albania, officially ceased operations on December 7.
• The airline surrendered its air operator certificate to the regulator.
• The regulator explained that it revoked the company's license because operations did not meet aviation standards.
• Against the backdrop of the crisis is Turkish Airlines' announcement that it will sell its 49% stake in the company.
• Turkish Airlines' decision brought an end to the strategic partnership that had been in place since 2018.

On December 15, the Albanian Civil Aviation Authority (Autoriteti i Aviacionit Civil, AAC) announced that it had suspended the operating license of the country's flag carrier, Air Albania, for non-compliance with civil aviation laws and regulatory requirements.However the AAC has not made public the specific violations that led to the suspension.

Officially, the decision was attributed to violations of regulatory standards, but understandably, it is directly linked to Air Albania's inability to meet its financial obligations.

According to local media reports, Air Albania has been on the brink of bankruptcy for the past week, and several flights have been canceled, including its most important route, between Tirana and Istanbul. A spokesperson for Tirana International Airport confirmed that at least three flights scheduled for Friday had been canceled without explanation.

Air Albania's goal was to fill the gap created by the demise of the national carrier Albanian Airlines in 2011. Albanian Prime Minister Edi Rama introduced the new airline in 2018 in partnership with Turkish Airlines.

MDN Investment SHPK held a 41% stake, and the Albanian government held the remaining 10% through Albcontrol, which manages the country's airspace. The airline started with a leased Airbus A319 from Turkish Airlines and gradually expanded its network of destinations.

• National carrier: Founded in 2018, Air Albania operated as Albania's flag carrier airline.
• European routes: The company operated flights to more than 12 European destinations, including Istanbul, Vienna, and Geneva .
• Public-private partnership: Air Albania was established as a joint venture between the state and the private sector.
• Passengers are affected: Passengers who purchased tickets are experiencing difficulties due to cancellations, and the company's lack of official notification is drawing criticism.
• Sectoral implications: Air Albania's situation could create a national carrier void in Albania's aviation sector .

Turkish Airlines, the largest shareholder with a 49% stake, announced last month that it intended to sell its stake. The remaining 41% of the shares are held by MDN Investment, a private company co-owned by Rejana Idrizi and others, according to local business registry information.

In May of this year, Albanian Prime Minister Edi Rama acknowledged that the company was going through a difficult transition period, but said that it planned to expand its business in the future. However, the suspension of the license has left the company's future in a very uncertain situation.

One of the reasons behind the failure of the company is competitive low-cost carriers. while dominant Wizz Air will base 14 aircraft in Tirana next year, Ryanair plans to night halt three aircraft in Tirana before next summer season. 

Financial problems emerged from the company's early years of operation. Aircraft leases and salaries remained unpaid, while its fleet gradually shrank, ending up with a single leased aircraft, serving limited routes to Milan and Istanbul.

The collapse of Air Albania highlights the difficulties faced by smaller markets in trying to create a viable national carrier. Albania made several attempts to operate its own carrier. However, none of these attempts were successful.

Air Albania is the latest failure after the collapse of numerous Albanian airlines in the past, namely - Albanian Airlines, Albatros Air, Ada Air, Belle Air and Albawings.

For now, Air Albania has not filed for bankruptcy or insolvency proceedings, so it appears it could resume operations. Its fleet consists of only two aircraft.