Lynx Air, a Canadian low-cost airline operating in Canada, the U.S., and Mexico, announced it had sought creditor protection under the Companies' Creditors Arrangement Act (CCAA) from the Court of King’s Bench of Alberta. This decision came after facing a tumultuous year marked by rising operating costs, high fuel prices, fluctuating exchange rates, increased airport charges, and a challenging economic and regulatory landscape. Despite launching in April 2022 and experiencing substantial growth, including doubling its passenger volume over two years and expanding its fleet and destinations, Lynx Air struggled with ongoing challenges. Efforts to find a solution through a sale, merger, operational improvements, and cost reductions were insufficient. Consequently, Lynx Air ceased operations on February 26, 2024. The airline has made arrangements to assist passengers with existing bookings, advising them to contact their credit card companies for refunds. Lynx Air expressed gratitude towards its customers, employees, and business partners for their support. Osler, Hoskin & Harcourt LLP served as legal advisors, and FTI Consulting Canada Inc. was appointed as the CCAA Monitor.