UK regional airline Eastern Airways has entered administration after most of its 330 workers have been made redundant final week.
The airline operated all through the UK, Ireland and Europe, and ran Scottish Government-supported companies to folks on the northernmost level of the UK mainland.
However, after the contract to function companies for Dutch airline KLM ended, the provider was left with a value base that was “too high to be sustainable”, directors mentioned.
Jamie Miller of RSM UK Restructuring Advisory, who has been appointed joint administrator, mentioned enough workers have been being retained to keep up the fleet whereas they sought to avoid wasting or all of Eastern's operations.
He added: “We would welcome any interest from potential alternative operators, or those who may have an interest in the underlying assets.”
RSM mentioned Eastern Airways had been working 4 plane for KLM Cityhopper in Europe, however, when this contract expired, it left Eastern with “high fixed overheads and a staff base that ultimately proved too large to be sustainable”.
The firm had filed a discover of intention to nominate an administrator on October 27 after the Civil Aviation Authority introduced the cancellation of all its flights.
Launched in 1997, Eastern is without doubt one of the UK's final remaining regional airways and is predicated at Humberside Airport in North Lincolnshire.
But the airline has confronted monetary challenges for the reason that Covid pandemic, partly because of falling passenger numbers.
It operates to the East Midlands, Jersey, Manchester, Newcastle, Newquay and Southampton, in addition to to Esbjerg, Denmark.
It has been an operator within the North Sea offshore oil and gasoline business, flying between UK cities with a big presence within the area resembling Aberdeen, Humberside, Teesside and Wick.
It has run a weekday service between Vic John O'Groats Airport and Aberdeen, which is taken into account necessary for folks residing on the northernmost level of mainland UK.
With inputs from BBC