British charter carrier Zenith Aviation has entered administration and canceled all flights, becoming the latest airline to fold amid rising fuel costs and cash problems.
The company, based at London Biggin Hill Airport, ran short charter flights across the UK and nearby Europe with one Learjet 45 and two Learjet 75s. Administrator Paul Hargreaves of Nexus Corporate Solutions said Zenith is “in an insolvent position due to cashflow issues, unpaid debtors, and historic ownership and management issues”.
All scheduled flights stopped at the start of May. The UK Civil Aviation Authority has suspended Zenith’s Air Operator Certificate, and all 41 staff have been laid off. Hargreaves said the firm is now assessing assets, helping staff claim redundancy, and looking at options for a rescue or buyout.
Zenith was acquired by OPUL Jets in 2025 but was dropped in December and later operated under leased AOCs from other airlines. Its last public financials showed £1.9 million in debt on £14.2 million revenue as of March 2025, with current debt estimated between £3 and £5 million.
The collapse follows a wave of airline failures since a three-month oil price spike triggered by the US strike on Iran. Spirit Airlines shut down permanently on May 2 after two bankruptcies. Mexico’s Magnicharters and China’s Joy Air have also filed for bankruptcy protection and canceled flights.
Hargreaves said Zenith’s future depends on whether a restructuring or sale is viable. For now, passengers with bookings won’t be flying, and the airline’s fleet is grounded. [Culled from street.com]
