The accident exposed several operating problems with the airline and was a major contributing factor to the company's collapse in 1993.

The airline also had year-round scheduled service between Montreal Mirabel Airport and Brussels, Belgium, serving the route up to daily.

In an interview for an episode of Mayday covering the accident, Nolisair executive William Fowler opined that the project managers Nolisair assigned to charter operations, including Flight 2120 victim Aldo Tetamenti, had unintentionally degraded safety culture by placing excessive pressure on maintenance crews.

[2] By the time it was publicly disclosed that the cause of the crash was negligence on the part of the company, it had already undergone bankruptcy and dissolution for several years.

These difficulties were compounded when Nationair Canada locked out its unionized flight attendants and proceeded to replace them with strikebreakers on November 19, 1991.

The lockout lasted 15 months and by the time it ended in early 1993, Nationair Canada found itself in severe financial trouble, and filed for bankruptcy protection.

The company went bankrupt in the spring of 1993 after it was discovered that it owed the government millions of dollars in unpaid landing fees.