Major UK airline plunges onto liquidation – no more flights | UK | News

A British airline has been liquidated after attempting to raise £20 million.

Scottish firm Ecojet Airlines has been billed as the world’s first all-electric airline and was founded in 2023 by entrepreneur Dale Vince, a leading Labor Party donor and owner of Forest Green Rovers football club.

The airline had ambitious plans for long-haul flights and routes within mainland Europe, with an initial service from Edinburgh to Southampton. But according to documents at the end of January, a petition was lodged at Edinburgh Sheriff Court to wind up the company and appoint joint provisional liquidators.

At the launch, Mr Vince said: “This is a vital frontier in the transition to net zero, green living, whatever you want to call it, and it can absolutely be done. It’s not a matter of if, but when.”

The Herald reports that Paul Dounis and Mark Harper of Opus Restructuring have been appointed as provisional liquidators. Opus confirmed that the action followed a “voluntary liquidation initiated by the company’s board of directors.”

He added: “Ecojet was a newly established business and had no financial assets. Members chose to fund the liquidation process to ensure the company’s employees received their full legal rights.”

Ecotricity announced on its website at the time of launch: “This move marks the beginning of an aviation revolution, making net-zero, emissions-free air travel possible for the first time.

“Ecojet’s fleet will consist of conventional aircraft equipped with hydrogen-electric powertrains. Once converted, the aircraft will operate with the same power output as before but with a 100% reduction in CO2 emissions.

“The decision to reuse old aircraft rather than building new models from scratch will save 90,000 tonnes of carbon per year. The only by-product will be water, which can be captured and released into the lower atmosphere to avoid the harmful effects of smoke trails.”