Deadline sources claim the company chiefs have abandoned the Christian Gudegast-directed movie, which was one of the biggest acquisitions at last year's (19) American Film Market, due to COVID-related production insurance.
Dealmakers are now seeking a new distributor, who will cover expenses should a coronavirus outbreak hit the set, forcing a shutdown.
In the film, Butler will portray a pilot forced to land his commercial plane in a war zone and fight off the efforts of feuding militias keen to take him and his passengers hostage.
The film was supposed to start shooting in Malaysia last month (October), but when COVID cases spiked there, filmmakers moved the project to the Dominican Republic and stalled the shoot again due to a coronavirus crisis there. The current plan is to start filming in the spring in Malaysia.
In the meantime, Butler will make another movie, "Kandahar", in the United Arab Emirates. He is also set to reprise his role as Mike Banning in "Night Has Fallen", the fourth installment in the "Has Fallen" franchise.
According to Deadline, Ric Roman Waugh will direct the upcoming sequel, with Robert Kamen writing the script and Butler also in line to produce. The film will start shooting at Millennium Media's Nu Boyana Studios in Bulgaria in the near future.