An airline founded in Edinburgh by a green energy entrepreneur has gone into liquidation after failing to raise £20million, with planned flights failing to take off
An ambitious Scottish airline that aimed to revolutionise the skies has come crashing down to earth, with flights scrapped and liquidators officially moving in. EcoJet Airlines, which launched with the bold vision of becoming the world’s first electric carrier, collapsed following a reported failure to secure £20million in vital funding.
While provisional liquidators were drafted in back in February, records from the Gazette now confirm that Paul Dounis and Mark Harper of Opus Restructuring have been formally appointed to wind up the beleaguered firm.
The Edinburgh-based start-up had planned to run high-tech green flights between Edinburgh and Southampton, with eyes on expanding across Europe.
However, the green revolution never reached the runway, and the airline’s schedule remained permanently grounded.
The company was the brainchild of green energy tycoon Dale Vince, the founder of Ecotricity, who has now confirmed he has “paused investment” into the project.
Despite the collapse, Opus Restructuring confirmed that the airline’s owners are digging into their own pockets to ensure workers aren’t left high and dry, reports the Daily Record.
A spokesperson said: “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.”
While the company is being wound up, Mr. Vince remains adamant that the dream of electric flight isn’t dead – just delayed by red tape and tech hurdles.
He said: “We remain committed to electrifying all forms of transport – aviation is the last frontier and the hardest.
“It’s taking longer than we hoped, to get the technology and regulatory pieces of the puzzle in alignment, and so we’re pausing work at this time.”
He added: “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.”
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