A UK-based airline has gone into liquidation after fuel costs rose, reports indicate.
Ongoing instability in the Middle East between America, Israel and Iran has triggered a sharp increase in aviation fuel prices.
Several airlines have felt the impact, and now Ascend Airways, registered in Hertfordshire, has reportedly entered liquidation.
The British company supplied aircraft to other carriers such as Tui Airways, Oman Air and Air Sierra Leone, operating from Southend Airport and Gatwick Airport.
Ascend Airways intends to return its Boeing 737 Max 8 fleet to lessors and surrender its air operator’s certificate, according to Flight Global.
The company initially launched as Synergy Aviation, a modest charter and management firm.
Aviation Solutions Group acquired it in 2023 to serve as its primary British operator.
It secured its UK air operator’s certificate two years ago and maintained an exclusively 737 Max 8 fleet.
Its inaugural commercial service took off in April 2024 from London Southend Airport.
The ongoing Middle East conflict and climbing fuel expenses have created a challenging outlook for the summer season, the carrier told Flight Global.
The company said these external factors have compounded the structural challenges of maintaining a UK air operator’s certificate within the European wet-lease sector.
UK carriers lack mutual wet-leasing rights, and combined with a higher cost base, this has made the UK certificate a more expensive and less flexible option compared to EU air operator’s certificates.
The airline described its surrender of the air operator’s certificate as strategic but confirmed it has met contractual obligations through the winter season or concluded agreements in an orderly manner, and it is supporting staff ahead of returning its air operator’s certificate.
Through close cooperation with stakeholders, a controlled reduction of operations has been achieved to minimise disruption to customers, consumers and aircraft lessors, the statement added.
However, reports also suggest the company has entered liquidation, according to The Sun.
A source said the company went bankrupt on April 28, with news arriving that afternoon.
Staff have all received letters confirming everything is going into liquidation.
The source added that economic conditions were responsible, contracts could not be secured, and the UK is considerably more expensive than Europe.
The fuel situation also had a significant impact.
Newsquest has approached Ascend Airways and Avia Solutions Group for comment.
Several major carriers have already responded to climbing fuel costs arising from the Middle East conflict.
Their responses have included raising ticket prices, introducing or expanding fuel surcharges, and cutting flight schedules.
UK airline Skybus previously announced it had suspended all flights between Cornwall and London citing extraordinary rises in global fuel costs and a notable drop in new passenger bookings.
Ryanair chief executive Michael O’Leary has also warned British holidaymakers to book their summer trips as soon as possible to avoid escalating costs.
Multiple airlines entered liquidation in 2025, according to the UK Civil Aviation Authority, including:
Blue Islands Limited (UK) – November
Air Kilroe Limited trading as Eastern Airways (UK) – November
Play Airlines (Iceland) – September
Three airlines have entered administration or liquidation in 2026 so far, resulting in the cancellation of more than 4,000 flights:
EcoJet Airlines
Royal Air Philippines
Dove Airlines
Airlines are not the only travel businesses affected, with four UK travel companies also having ceased trading in 2026, resulting in the cancellation of flights and holiday packages to destinations worldwide.
The four UK travel companies that have closed in 2026 so far are:
Regen Central Ltd
Gold Crest Holidays
Asiara UK Ltd
Simply Florida Travel Ltd
All four have stopped trading, according to Companies House, and have lost their Air Travel Organiser’s Licence.