UK regional carrier Eastern Airways has cancelled all flights and could collapse within days, after filing a notice of intent to appoint an administrator. The legal document gives the company protection from liquidators for 10 business days while it seeks an alternative to liquidation.
The Humberside-based carrier was established in 1997, flying between Humberside and Aberdeen to serve the oil industry. It later expanded its operations across the UK, adding Newcastle, Birmingham, London City, and the Isle of Man to its network, and flew on behalf of British Airways on the latter two destinations for a time.
It currently carries around 1.3 million passengers each year, mainly on oil and gas flights across Scotland and PSO services between Newquay and London Gatwick. It also operates regular charter flights for football clubs across Europe, flying Premier League and Championship teams, as well as Rugby Union and Super League sides.
Recently, the carrier signed an agreement with Dutch flag carrier KLM Cityhopper to operate an Embraer E190 on several routes from UK airports to Amsterdam. However, the deal was plagued with cancellations and ended on October 5.
The most recent financial filings for the airline show that for the year ending March 2024, Eastern reported a net loss of £19.7m, up £4.8m from the previous year. Total debt increased to £25.97m, while profits dropped from £1.55m to just £454,000.
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Cover image credit: Eastern Airways.
© Confessions of a Trolley Dolly by Dan Air
Very sad when any airline goes belly up.