New Delhi, Nov. 5 -- Kenai Aviation, a regional Alaskan carrier known for connecting remote communities, has announced an immediate halt to all operations after becoming financially insolvent.

In an emotional letter to employees and customers, owner Joel Caldwell revealed that despite full flights and operational success, the airline's heavy debt load-dating back to the pandemic-has forced it to cease service.

"By all operational metrics, Kenai Aviation is successful. But yet, we are financially insolvent," Caldwell wrote in a letter posted Tuesday.

He said the company's bank has called its debt, leaving no choice but to stop flights immediately.

Caldwell reflected on how he saved Kenai Aviation in 2017, after hearing that the histori...