Flypop files winding-up order against Hi Fly in Malta
British low-cost startup, Flypop, is embroiled in a legal battle with Hi Fly, filing a creditor’s winding-up order against the wet lease specialist airline, in the Maltese courts on Friday…
January 10, 2025
British low-cost startup, Flypop, is embroiled in a legal battle with Hi Fly, filing a creditor’s winding-up order against the wet lease specialist airline, in the Maltese courts on Friday 10 January over an alleged multi-million-pound debt.
The path to launching an airline has never been smooth, but startup low-cost carrier Flypop, which received a “significant investment” from the UK Government’s Future Fund in 2021 and is currently based out of London Stansted, is having to start over after it was forced to return two of its leased aircraft to its lessor.
Flypop’s journey with Hi Fly began with the lease of its first Airbus A330-300 in November 2021. The aircraft operated until January 2022, followed by the introduction of a second A330, which served the airline from January 2022 to May 2023. Having partnered throughout the pandemic on cargo operations, Flypop formed a joint venture with Hi Fly Malta (a subsidiary of Hi Fly which partnered with another British startup Global Airlines in 2023) in 2022 to expand its collaboration into commercial passenger services flying out of the UK.
In mid-2023, Flypop transferred its aircraft to SmartLynx Airlines, due to Hi Fly Malta’s failure to meet payment obligations.
The aircraft were subsequently utilised for passenger charters and Hajj/Umrah flights for various airlines around the world. However, the absence of a UK Air Operator Certificate (AOC) forced Flypop to return the aircraft to its lessors, marking yet another setback for the airline.
Legal and financial troubles
Flypop’s financial issues have been further compounded by Hi Fly Malta’s failure to file audited accounts since 2013, according to a credible source. The Maltese Civil Aviation Directorate (TM-CAD) is reportedly monitoring the situation closely, as Flypop’s dispute with Hi Fly Malta is not an isolated case.
In May 2024, Hi Fly Malta settled a similar liquidation filing brought by Miami-based Composite Aeronautic Specialists (CAS) in the Maltese courts. Today’s hearing will determine the next steps in the ongoing case against Hi Fly Malta.
Uncertain future
Flypop’s difficulties follow the closure in 2023 of Hans Airways, another UK-based airline, signalling broader challenges for startup carriers in the post-pandemic aviation market. With mounting legal and financial pressures, Flypop’s future remains uncertain, and the outcome of today’s court proceedings could play a pivotal role in determining its viability.
