[2] The company filed for bankruptcy on 31 December 2021, linked to a restructuring procedure, and it has been for sale since January 2022.

The company managed to achieve recognition and retain its share in the aviation market during the economically and politically complicated period of the 1990s.

Following what Russia perceived as anti-Russian protests in June 2019, it banned all flights to and from Georgia starting 8 July 2019.

[6] Georgian Airways filed for bankruptcy on 31 December 2021, linked to restructuring proceedings,[7] and the airline was put up for sale in January 2022.

The causes include the Russian flight ban since July 2019,[4][9] but most of all, the COVID-19 pandemic hit the airline hard.