Lynx Air announced Thursday that it has filed for creditor protection from the Court of King’s Bench of Alberta.

The airline said in a release that it will cease operations at midnight, Monday, Feb. 26, with flights continuing until then.

“Every effort is being made to assist passengers at this time,” it said in the release. “Passengers with existing bookings are advised to contact their credit card company to secure refunds for pre-booked travel. Additional information for Lynx customers is available on the Frequently Asked Questions page.

Lynx launched its first flight in April 2022.

“Tremendous work was put into the launch, growth and expansion of Lynx Air over the past two years, offering a low-cost, seamless travel experience for Canadians,” Lynx Air said in a statement posted to social media.

“The compounding financial pressures associated with inflation, fuel costs, exchange rates, cost of capital, regulatory costs and competitive tension in the Canadian market have ultimately proven too steep a mountain for our organization to overcome.”