"A UK airline which flies to destinations across Britain has filed a notice to appoint administrators which will affect more than 1 million passengers. Eastern Airways which has around 1.3 million passengers annually will now have ten days to sort their issues or it will officially shutdown."
"In the year to March 2024 the airline reported net losses of £19.7 million, up by £4.8 million the previous year and their total debt rose £4.8 million to a whopping £25.97 million, profit plummeted to £454,000."
"Time will tell if any of these routes gets picked up but these will be fearful times for Humberside, Teesside, Wick and Newquay as Eastern operated their busiest domestic services. Regarding the Aberdeen flights: Loganair could be best placed to serve these routes, however, Eastern used 29-seater aircraft and Loganair would likely need to use much larger planes which could be unviable."
Eastern Airways has filed a notice to appoint administrators, a move that will affect more than 1 million passengers. The carrier serves around 1.3 million passengers annually and has ten days to resolve its issues or face official shutdown. The airline cancelled Cardiff–Paris/Orly routes in March 2024 and announced new flights from Newquay to London Southend. For the year to March 2024 the company recorded net losses of £19.7 million, an increase of £4.8 million, total debt rising to £25.97 million and profit falling to £454,000. An aviation analyst warned that key regional routes may become unviable and could be difficult for other carriers to replace.
Read at London Business News | Londonlovesbusiness.com
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