No, Air Florida does not exist in 2026; the airline ceased operations over four decades ago. Founded in 1971 as a small intrastate carrier, it became a major success story of U.S. airline deregulation, expanding internationally to Europe and the Caribbean. However, the airline faced a catastrophic decline following the high-profile crash of Air Florida Flight 90 in Washington, D.C., in 1982. The tragedy, combined with aggressive expansion and intense competition from larger carriers like Eastern and Pan Am, led to a financial "arterial bleed" that the company could not recover from. Air Florida filed for Chapter 11 bankruptcy in July 1984 and was eventually sold to Midway Airlines, which absorbed its remaining assets. Its legacy today is largely a cautionary tale in aviation history regarding rapid growth and safety management.