EcoJet Airlines, an electric airline, has appointed liquidators following a reported bid to raise £20 million.
A Scots airline has ceased all operations with liquidators appointed by a court.
EcoJet Airlines, an electric airline, has appointed liquidators following a reported bid to raise £20 million. The firm was launched in 2023 by Entrepreneur Dale Vince, who is also a prominent Labour Party donor.
It planned an Edinburgh to Southampton route with mainland Europe and long-haul flights for the future. Speaking at the time of launch, Mr Vince said: “This is a vital frontier in the move to net zero, green living, whatever you choose to call it – and it’s absolutely doable. It’s a matter of when not if.”
However, documents show a petition was brought to Edinburgh Sheriff Court “craving the court that Ecojet Airlines Limited be wound up by the court and joint interim liquidators appointed”. The Herald reports that Paul Dounis and Mark Harper, of Opus Restructuring were appointed provisional liquidators.
Opus said the move followed a “voluntary liquidation initiated by the company’s board”.
It added: “EcoJet was a start-up business and has no material assets. The members have elected to fund the liquidation process to ensure that the company’s employees receive their full statutory entitlements.”
EcoJet Airlines was previously hailed as “the world’s first electric airline”. Ecotricity said on its website at the time of the launch: “The move marks the beginning of an aviation revolution by making net-zero, emission-free air travel possible for the first time.”
It added: “EcoJet’s fleet will comprise conventional planes retrofitted with hydrogen-electric powertrains. Once converted, the aircraft will operate with the same power output as before, but with a one-hundred percent reduction in CO2 emissions.
“The decision to repurpose old planes rather than build new models from scratch will save 90,000 tonnes of carbon per year. The only byproduct will be water, which can be captured and released into the lower atmosphere to avoid the harmful effects of contrails.”
Mr Vince gave Labour £5.5m in multiple donations between 2022 and 2024.