Jet Airways is on the brink of collapse. Here are 5 airlines that have gone bust since October.

Cypress-based Cobalt Air was founded in late 2015 following the shutdown of the country's national airline Cypress Airways earlier that year. Unfortunately, the airline could not sustain its operation financially and shut down on October 17, 2018.

Founded in 1978, Berlin-based Germania offered by charter and scheduled passenger service. The airline ceased operations on February 5, 2019, citing financial insolvency due to high fuel prices and the devaluation of the Euro against the US dollar.

Founded in 1987, Flybmi was once the regional arms of British Midland International. The airline was sold off in 2012 following BMI's acquisition by British Airways. Flybmi shut down on February 16, 2019. The airline cited rising spikes in fuels costs and rising carbon costs due to Brexit as contributing causes of its demise.

Founded in 2012, the Icelandic ultra-low-cost carriers collapsed on March 28, 2019, after failing to secure new investment from Icelandair and private equity firm Indigo Partners. The airline blamed its decision to add widebody Airbus A330-300 jetliners a key reason for its poor finances.