118-year-old transportation company files for bankruptcy

With the cost of both gas and jet fuel sitting at yearslong highs over the war in Iran, almost every company providing transportation has felt the strain of expenses spiking suddenly.

Airlines such as Spirit and Magnicharters are among those that collapsed in bankruptcy since the start of the spring. The Jet, a luxury bus company that sold trips between New York and Washington, also shut down all operations in May alongside dozens of such bankruptcies in different parts of the world.

In Europe, Belgian transportation company Ziegler filed for bankruptcy protection in Brussels Commercial Court on June 1. The Brussels-based company dates back to 1908 when it was founded as a bus company.

Ziegler Belgium files for bankruptcy protection, jobs at risk

It employed over 3,200 people across 16 countries and had four subsidiaries offering different types of bus and cargo transportation services: Ziegler SA, Intertrans, Dornach and Universal Express.

The bankruptcy protection affects all four while a Ziegler subsidiary in France has already been declared bankrupt in March 2026 in a shutdown that caused the loss of all 1,500 jobs. Trade union head Philippe Lescot said to local outlets that the current “aim remains to save as many jobs as possible.”

Related: Travel company shuts down in bankruptcy, passengers stranded

Ziegler has already been facing financial problems before it was sent to the inescapable bottom by skyrocketing gas prices. Over the last 10 years, Ziegler also went through a period of rapid expansion that brought its total debts to over €400 million.

Former chief executive Diane Govaerts was fired from her role at the start of 2026 over what Ziegler then said was “recent turbulence within certain departments of the company and after a thorough analysis of the situation within the sector and the group.”

Ziegler is a major transportation and distribution company based in Brussels.

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Transportation companies hit by high gas prices over Iran war

Ghent-based transportation company Transuniverse Forwarding will immediately take on several of Ziegler’s sites and workforce to continue transportation at key distribution sites in Belgium.

Van Moer Logistics, meanwhile, is acquiring Ziegler Belgium’s air freight activities so that transportation of cargo can continue without disruption.

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“Many of our customers move goods by road, water and air,” Van Moer Logistics CEO Jo Van Moer said in a statement. “From today, they can also come to us for their air freight shipments.”

These airlines filed for bankruptcy in 2026:Spirit Airlines: The largest airline shutdown of the year occurred when Spirit Airlines canceled all remaining flights on May 2. Although the airline had filed for Chapter 11 protection twice before, the skyrocketing price of jet fuel dealt the final blow to its operations.Magnicharters: The Mexican low-cost airline canceled all of its flights until May 2026 in a shutdown that left thousands stranded.Starflite Aviation: Houston-based Starflite Aviation had its AOC license revoked in March 2026, amid FAA claims that owners falsified pilot training records to bypass safety audits.AlpAvia: Slovenian charter airline AlpAvia also shut down in March 2026 over financial problems.H-Bird: Charter airline H-Bird was declared bankrupt by a Swedish judge after losing its operating license at the end of 2025.

Related: Another plane company files for bankruptcy

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