British airline collapses into administration with all jobs lost and flights cancelled

Private jet charter operator Zenith Aviation Limited has collapsed into administration with the loss of all 41 jobs at the business after mounting financial pressures.

The London Biggin Hill-based company formally entered administration on May 15, with an administrator now exploring whether the operation can still be rescued or sold to a buyer.

Zenith Aviation had operated as a major provider of executive jet hire, aircraft management and engineering services across Britain and Europe before the business fell into insolvency.

Paul Hargreaves, from Nexus Corporate Solutions Limited, was appointed administrator by the company's director after the firm encountered worsening financial difficulties.

Mr Hargreaves said the company had entered administration because of "cashflow issues, debtors not paying, and historic ownership and management issues".

"I was appointed administrator of the company on May 15, 2026 by the director, and the company is in an insolvent position due to cashflow issues, debtors not paying, and historic ownership and management issues".

Mr Hargreaves also confirmed all 41 roles at the company had been lost following the administration process.

"It is unfortunate for the company and the former employees, however, we are assessing the assets of the company, assisting employees with claiming their statutory redundancy entitlements, and looking at options to include potential rescue, or buyout should that be appropriate," he added.

The administrator said work was continuing to assess Zenith Aviation's overall financial position while considering the available options for the business.

Zenith Aviation underwent a change in ownership at the beginning of 2025 when Opul Jets acquired the company as part of a deal involving its operational assets.

The acquisition included Zenith's UK-issued Air Operator Certificate, which allows companies to conduct commercial flight operations, alongside its managed aircraft fleet and accredited maintenance facility.

However, records later showed Opul Jets had relinquished control of Zenith Aviation by December 2025 following a rapid change in ownership structure.

LATEST DEVELOPMENTS

• 'Completely preposterous!' M&S boss launches furious attack on Rachel Reeves's price cap plans
• Ftse 100 and pound sterling in the red after shock inflation announcement
• Labour denies pushing supermarkets to cap food prices amid outrage over '1970s style' policy

Mr Hargreaves cited "historic ownership and management issues" among the factors which pushed the company into insolvency proceedings.

Administrators are now reviewing all company assets as part of the ongoing process, the Northern Echo reported.

Zenith Aviation's collapse comes amid rising levels of business insolvencies across Britain as companies continue to face pressure from higher costs and economic uncertainty.

Figures published on Tuesday showed company insolvencies in England and Wales rose to 2,085 in April 2026, marking a three per cent increase compared with the 2,028 recorded during the same month last year.

Scotland recorded an even sharper rise, with 107 corporate insolvencies registered during April, representing a six per cent increase year-on-year.

Sonia Jordan, president of restructuring trade body R3 and partner at Knights, said businesses continued to face difficult trading conditions despite signs of economic growth earlier in the year.

"Insolvency numbers always reflect a range of underlying factors and while we have seen welcome economic growth in the first quarter of the year, the current environment remains challenging for businesses and households alike".

She added that geopolitical tensions and uncertainty surrounding the domestic economy were continuing to create instability for firms at a time when businesses most needed predictability.