CanaryFly (PM, Las Palmas Gran Canaria International (LPA)) has launched six weekly scheduled services from Las Palmas Gran Canaria International (LPA) to both Fuerteventura El Matorral (FUE) and Lanzarote Arrecife (ACE) on December 10, 2012 already following the bankruptcy of Islas Airways (IF, Tenerife Norte (TFN)). It currently operates its single ATR 42-300 EC-LMX (c/n 115) and competes with Binter Canarias (NT, Las Palmas Gran Canaria International (LPA)) on both routes. CanaryFly plans to lease a larger ATR 72 in the next couple of weeks. It had previously concentrated on niche routes from the Canary Islands to Mauritania and Morocco.

Islas Airways (IF, Tenerife Norte (TFN)) has suspended all of its operations on October 16 due to financial difficulties. It had already been forced to cancel most of its flights on various days during the last couple of weeks because of strikes by employees due to unpaid wages. Islas had operated a three ATR 72-200s and three ATR 72-500s on regional services between the Canary Islands competing with Binter Canarias (NT, Las Palmas Gran Canaria International (LPA)) and offering routes between its two bases at Las Palmas Gran Canaria International (LPA) and Tenerife Norte (TFN) and from both to Fuerteventura El Matorral (FUE), Lanzarote Arrecife (ACE), Santa Cruz de La Palma (SPC) and Valverde El Hierro (VDE). It had originally launched operations back in 2003.

Islas Airways (IF, Tenerife Norte (TFN)) is in major financial troubles having reportedly not paid salaries to its employees since May. It has now also laid off approximately 30 of its 250 employees and plans to introduce short time work for the remaining workers. Islas competes with Binter Canarias (NT, Las Palmas Gran Canaria International (LPA)) operating three ATR 72-200s and three ATR 72-500s on routes linking the Canary Islands. Islas Airways says that its issues are partially caused by unpaid subsidies that the Spanish government provides for residents travelling on its services.

Islas Airways (IF, Tenerife Norte (TFN)) has leased a third ex-Airlinair (A5/Paris Orly) ATR 72-200 in early January.

Islas Airways (IF, Tenerife Norte (TFN)) will add an ex-EuroLOT (K2/Warsaw) ATR 42-500.