liquidation

AN AIRLINE operating flights in the UK has collapsed into liquidation.

Ascend Airways offers aircraft for other airline carriers, with previous carriers including Oman Air, Air Sierra Leone and Tui Airways.

The shock meltdown unfolded yesterday after Ascend Airways told crew of the sudden shutdown and immediate loss of operations.

An insider told The Sun: “It’s gone bust today, we got the news this afternoon. We’ve all been given the letters that it’s all going into liquidation.”

Bosses waited to make a public announcement until a flight from Muscat landed safely back at Stansted Airport (YD187).

A company email blamed a storm of economic pressure, soaring UK costs and a lack of contracts for the collapse.

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“It’s to do with the economy, we couldn’t get contracts, the UK is a lot more expensive than Europe,” the insider said. “The fuel situation had a massive effect on it as well.”

Behind the scenes, workers had feared the worst for months amid unpaid bills and mounting financial strain.

Hopes were pinned on securing a crucial IOSA licence in March to unlock global routes, but the bid ended in failure.

Desperate talks to save the company collapsed when potential partners refused to take enough aircraft to keep it afloat.

The insider claimed: “It’s 40 per cent cheaper to use airlines in Europe than the UK because taxes are too high.”

“We’re not going to get paid for May and we have to go through the liquidators.

“You could get up to £750 a week but we’re not going to get the full amount we’re owed.”

The collapse comes despite recent recruitment, leaving staff furious and confused. The insider said: “We were quite surprised they took on more crew, I think they were banking on getting the IOSA.”

But the final blow came when the airline reportedly failed to pay its leasing company, triggering a rapid downfall. “When we heard they hadn’t paid, we knew it was downhill fast,” the insider admitted.

Initially launching at Synergy Aviation in 2004, it became Ascend Airways in 2023 with a fleet made up of one Boeing 737-800 and six Boeing 737 MAX 8.

A FERRY company has plunged into liquidation after 18 months of trying to save the business.

The service provides a vital link between Hythe and Southampton Town Quay.

The Hythe Ferry, operated by the Hythe and Southampton Ferry Company, has been inactive since August 2024, when damage was found on its boat’s pontoon and supporting structure.

The business has now gone into voluntary liquidation after it failed to secure necessary investment to survive.

A company spokesperson said: “This is a deeply disappointing outcome and not one that has been reached lightly.”

The service has been operational since 1874 and has passed through multiple ownerships.

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The firm is currently owned by cross-Solent operator Red Funnel, which runs services to the Isle of Wight.

It had previously been put up for sale in the hope of attracting a buyer.

Despite applying for funding and grants from investors, the company was not able to secure the necessary money to stay afloat after 18 months of trying.

After taking legal advice, it was decided that Hythe and Southampton Ferry Company would go into voluntary liquidation.

Staff have also been caught up in the fallout, with all employees now informed of the closure.

The company says workers will be supported throughout the process as the shutdown unfolds.

Specialist firm Leonard Curtis has been brought in to handle the liquidation, guiding the business through its final chapter.

Their role will include managing assets and supporting those affected.