Administrator appointed to Eujet
Budget airline Eujet has collapsed and filed for voluntary administration. More than a dozen Eujet flights had already been suspended a day after trading in its parent company’s shares was halted.
Only two planes took off from the Kent International Airport at Manston, near Ramsgate, this morning before all further services today were cancelled.
Yesterday’s suspension of share trading came after bankers said they were unable to support additional finance for Eujet owners PlaneStation, which has been operating the airline since September 2004.
The firm runs four Fokker 100 aircraft and flies to 18 destinations.
In a statement to staff, Eujet chief executive PJ McGoldrick said PlaneStation had failed to secure further funds from its bank and could not keep Kent International Airport operational.
He said: “Therefore, it is with regret that I must advise you that Eujet has had no alternative but with immediate effect to suspend all airline operations and appoint an administrator in Ireland."
He said Eujet’s operations from Shannon in Ireland had “exceeded all expectations”, but he said an under-performance in Kent alongside high fuel prices and other factors “resulted in an irresolvable conclusion for the Group”.
