Royal Air Philippines and Dove Airlines collapsed on January 4–5, 2026, disrupting travel and regional commerce. Royal Air Philippines canceled all flights on January 4, stranding an estimated 3,000 to 4,000 travelers through March 2026. Dove Airlines entered liquidation on January 5 after years of financial strain and asset repossessions. Larger carriers may assist with rebooking, but limited capacity threatens schedules, and travelers are being directed to agents or booking platforms for alternatives. Royal Air’s cargo services supported regional trade, raising short-term risks for time-sensitive shipments until other carriers fill gaps. Oversight by the Civil Aviation Authority of the Philippines and India’s Directorate General of Civil Aviation frames debate over small-carrier viability, connectivity on routes including Taipei–Boracay, and continued consolidation across Asia Pacific.