European Cargo enters administration, 178 jobs lost

UK freight carrier European Cargo has entered administration, resulting in the loss of 178 jobs and bringing an abrupt halt to the airline’s recent expansion plans.

The Bournemouth-based airline, which operates cargo services from Bournemouth International Airport, confirmed that joint administrators from Teneo have been appointed to manage the company’s affairs. The airline has ceased trading with immediate effect.

According to the administrators, European Cargo had been facing significant financial pressure due to reduced flying activity, working capital challenges and rising fuel costs. Employees affected by the closure are being contacted as a priority.

The collapse comes just months after the carrier expanded its operations, adding aircraft, opening a new base at Teesside and launching services from Cardiff Airport. European Cargo became well known during the Covid-19 pandemic for transporting personal protective equipment (PPE) into the UK.

Aviation analysts said the airline’s reliance on ageing Airbus A340-600 freighters, combined with high fuel prices, likely contributed to its financial difficulties. The development is also a setback for Bournemouth Airport, which had supported the airline’s growth in recent years.

Source: BBC