In 2025, airlines like Play and Spirit Airlines went bankrupt, while tour companies faced tough times due to competition and low demand. Great Little Escapes lost its license, Jetline Holidays closed, and MixxTravel declared bankruptcy. MixxTravel had to cancel bookings and tours, affecting 1,200 travelers.

Exploris Expeditions & Voyages, a cruise line from France, is in bankruptcy proceedings. The company ran Antarctic expeditions with one ship and planned to expand. A cash flow problem and a major charterer’s cancellation led to financial difficulties, forcing the company into bankruptcy protection.

Launched in 2022, Exploris Expeditions ran tours from Argentina to Antarctica with one ship. Plans to expand with a partnership fell through, leading to bankruptcy. The company primarily targeted French travelers and operated at 50% capacity during the 2024-2025 season.

Read more at Yahoo Finance: Struggling cruise line files Chapter 11 bankruptcy