Air cargo operator falls into administration

An air freight company has been grounded.

European Cargo has fallen into administration.

Reports say the collapse of the Bournemouth International Airport-based operator will cost about 180 jobs.

Bosses have blamed factors including rising fuel prices for the business’ administration.

The move comes just weeks after the freight firm unveiled a “transformational” five-weekly flight China service at Teesside International Airport.

At the time, bosses at European Cargo – which transported personal protective equipment from Malaysia to the UK during the COVID-19 pandemic – said the deal “marked a significant step forward in its mission to connect UK businesses with global markets”.

Bdaily understands no jobs have been affected at the North East site.

A statement on European Cargo’s website said: “Stuart Morris, Robert Fishman and David Soden, of Teneo Financial Advisory Limited, were appointed joint administrators of European Cargo.

“The affairs, business and property of the company are managed by the joint administrators.

“The joint administrators act as agents of the company and contract without personal liability.”

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