European Cargo Enters Administration After $26M Loss, 178 Jobs Lost

European Cargo Limited has collapsed into administration, leaving 178 staff without jobs. The Bournemouth Airport-based freight airline ceased trading after a period of reduced flying activity and mounting fuel and working-capital costs. Stuart Morris, Robert Fishman and David Soden from Teneo Financial Advisory Limited were appointed joint administrators on Wednesday.

Administrators said they are prioritising contact with affected employees and are engaging with customers, suppliers and creditors. Two former employees told the Bournemouth Echo they learned of the redundancies during a Microsoft Teams call. European Cargo launched operations in April 2020 after its parent company answered an urgent Government request to fly personal protective equipment from Malaysia during the Covid pandemic.

The carrier completed more than 400 missions transporting PPE and testing kits using temporarily converted passenger aircraft known as preighters. The airline later invested in permanently converting its Airbus fleet into dedicated freighters. In April 2023 it began three-times-weekly services between Bournemouth and Chengdu, China, and added further capacity in August and November that year.

4 metres long, and operations had started from Haikou. 2 million operating loss in 2024; accounts for 2025 have not yet been filed. All six A340 freighters were grounded in May 2026.

The final commercial flight operated on May 19 from Karaganda to Maastricht before returning to Bournemouth. Five aircraft are now parked at Bournemouth Airport and one remains at Teesside. Ownership changed in late 2024 when The Law Debenture Corporation and Carlos Miguel Amorim Dasilva took control, ending founder Paul Stoddart’s involvement.

Stoddart had established European Aviation Ltd as an aircraft-parts business in Herefordshire in 1989; the firm rebranded as European Aviation Air Charter in 1993 and made Bournemouth its main base. GB News contacted Teneo and European Cargo for comment.