Ascend Airways has axed all flights with immediate effect and will now surrender its UK Air Operator’s Certificate (AOC). The company was established in 2004 but traded under its current name for only three years.
As a “wet-lease” operator, the airline provided aircraft to carriers including Oman Air, Air Sierra Leone and TUI Airways. Also known as ACMI (Aircraft, Crew, Maintenance and Insurance), they offered a short-term supply of fully crewed aircraft to other airlines.
According to sources within the company, an email was circulated to employees citing economic pressures, including the impact of the conflict in Iran on the jet fuel crisis, for the closure.
A source told The Sun: “It’s gone bust today, we got the news this afternoon….