Tue, 28 Oct 2025 | ADMINISTRATION
Administrators are set to be appointed to Eastern Airways, a domestic UK airline that flew to destinations including London Gatwick, Aberdeen, Humberside, Teesside International, Newquay and Wick.
Founded in 1997, Eastern Airways had most recently been flying four aircraft for KLM-Air France subsidiary KLM Cityhopper in Europe, as well as several UK-based routes under its own name and a successful charter business.
However, the company’s contract with KLM was recently terminated, leaving the airline with high fixed overheads and a staff base that ultimately proved to be unsustainable. Despite directors seeking alternatives to secure the future of the business, a significant immediate funding requirement meant that administration and a cessation of its day-to-day operations were seen as the only viable options.
The directors of the business filed a notice of intention to appoint administrators on October 27, 2025. Jamie Miller and Gareth Harris of RSM UK Restructuring Advisory are set to be appointed as joint administrators of Eastern Airways (UK) Ltd and Air Kilroe Ltd, which are together known as Eastern.
Jamie Miller, partner at RSM and proposed joint administrator, said: "This has been a very fast-moving situation but due to circumstances outside their control, and without a viable solution, the directors have had no choice but to cease day to day operations.”
“Sadly, a majority of the 330 staff have had to be made redundant by Eastern. Sufficient staff have been retained to provide ongoing service and assistance to Eastern's valued customers, and to continue maintenance of the aircraft.”
Miller added that the proposed joint administrators “would welcome any interest from potential alternative operators, or those who may have an interest in the underlying assets."
In accounts for the year to March 31 2024, Eastern Airways (UK) Limited reported turnover of £38 million, up from £34 million a year earlier, while moving from an operating loss of around £124,000 to a profit of £368,000. At the time, its assets were valued at around £26 million, with net assets amounting to £6.2 million.
During the same period, Air Kilroe Limited reported turnover of £28.6 million, up from £22.3 million, but saw operating profit dip from around £214,000 to approximately £140,000. Its fixed assets were valued at £16.1 million and current assets at £1.6 million, with net assets totalling £5.3 million.
Discover how to identify and acquire high quality distressed assets
This is a unique opportunity to acquire a well-established vehicle repair and service centre with an exceptional reputation, strategically located between Southampton and Bournemouth.
Take advantage of a rare opportunity to acquire a well-established hair and beauty business in a prime North Yorkshire location, known for its modern, luxurious premises and a skilled team.
A rare opportunity to acquire a well-established plant hire and contracting business in Somerset, offering over 60 years of operational excellence with a focus on quality and compliance.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.