Ascend Airways, based in Bishop’s Stortford, told their crew of the sudden shutdown and immediate loss of operations, according to The Sun.
The airline provided aircraft for other carriers and counted Oman Air, Air Sierra Leone and Tui Airways among its clients. Those airlines are not affected by the collapse.
Ascend Airways lists Southend Airport and London Gatwick as their base of operations.
Reports suggest a company email highlighted economic pressure, sharply rising UK costs and a dwindling pipeline of contracts for the collapse.
An employee told The Sun: “It’s to do with the economy, we couldn’t get contracts, the UK is a lot more expensive than Europe.
“The fuel situation had a massive effect on it as well.”
Avia Solutions Group, who own Ascend Airways, has said the move to surrender the airline’s UK air operator’s certificate (AOC) and return its fleet forms part of a wider “strategic optimisation” to respond to current market pressures, particularly volatility driven by geopolitical tensions and rising fuel costs.
Ch-aviation reports a spokesperson said: “These moves address immediate market pressures while building a robust foundation for future expansion.
“A normalisation of the European ACMI market is anticipated by next summer as geopolitical pressures stabilise, allowing the industry to move beyond this year’s exceptional volatility and return to more predictable seasonal patterns.”
The airline, originally launched as Synergy Aviation in 2004, rebranded as Ascend Airways in 2023 and operated a fleet of one Boeing 737-800 and six Boeing 737 MAX 8 aircraft.
Ascend Airways’ first revenue flight took place on April 26, 2024, operating out of Southend Airport on behalf of Chapman Freeborn.
Hopes for a turnaround rested on securing an IOSA licence in March to unlock global routes, but the application was unsuccessful.