Dan Air files for insolvency over €10 million carbon debt
Romania's Dan Air has sought insolvency protection to avoid enforcement over a €10 million environmental debt.
Dan Air filed for insolvency at the Ilfov Tribunal on October 22, 2026. The move aims to prevent enforcement proceedings over a debt of approximately €10 million owed to Romania’s Environmental Fund Administration (AFM). Chief executive Matt Ian David stated the insolvency application was intended to protect the airline from enforcement proceedings over that environmental debt. The carrier is the second Romanian airline to seek insolvency protection in recent weeks.
Carbon debt and payment failure
The debt stems from Dan Air's failure to purchase required carbon allowances since 2024. Matt Ian David said the debt falls due on October 25 and the company cannot pay it in full. Failure to comply with carbon allowance requirements can lead to outstanding liabilities and penalties of about €100 per tonne of emissions. David said the airline chose to pay for fuel rather than carbon certificates this year.
The airline's financial troubles are significant. Its total liabilities reached RON 126.3 million (€25.4 million) at the end of 2025. This marked a sharp increase from RON 90.2 million (€18.1 million) in 2024.
| Liability Period | Amount in RON | Approx. in EUR |
|---|---|---|
| End of 2024 | 90.2 million | €18.1 million |
| End of 2025 | 126.3 million | €25.4 million |
Operational continuity amid insolvency
Despite the filing, Dan Air has maintained scheduled operations. The airline initially said the insolvency filing would not affect its flight schedule but later suspended flights. It planned to resume operations on October 25 under a revised schedule, pending confirmation. David said Dan Air had reached agreements with its aircraft leasing companies and other partners to continue operating. The airline has insisted it will continue operating scheduled flights despite the insolvency filing.
Insolvency filing does not automatically mean liquidation or immediate cessation of operations. Court approval is required. A separate insolvency request filed by creditors remained pending as of October 22.
Broader sector challenges
Dan Air's situation follows AnimaWings' insolvency proceedings and reflects wider financial strain on Romania's aviation sector. AnimaWings filed a second insolvency petition on October 20 after a court rejected its initial application last week due to missing documents. Its first petition was filed at the end of September.
The second petition for AnimaWings was registered under Article 66(10) of Law No. 85/2014 with a deadline of October 28. That airline initially suspended all flights until October 25 but extended the suspension until November 15. Dan Air has also faced rising fuel costs this year, putting further pressure on its finances.
The court handling Dan Air's case ordered that claims submitted by 25 creditors be separated from the company’s application. Those creditors’ cases are scheduled to be heard on November 11, 2026. Passengers are advised to check directly with the airline for updates on cancellations, reschedules, and refunds.
