"There is no longer a realistic opportunity to achieve a solution for the short-term liquidity situation," the company said in a statement, while adding that the board's decision was unanimous.

Flyr, which launched operations in mid-2021 to serve domestic destinations in Norway as well as in Europe, on Monday said weak financial markets and uncertainty over demand for air travel had prevented it from raising more cash.

Flyr, which leases 12 Boeing 737 aircraft, in November said raising cash was vital to survive the winter season and prepare for the spring and summer of 2023, but it was only able to raise about half the required cash at the time.

(Reporting by Terje Solsvik; Editing by Chris Reese and Bernadette Baum)