Civil Air ceased trading on 2nd February 2006 and were put in to Creditors Voluntary Liquidation on 24 February 2006. There are about 38 creditors - the biggest one being Biggin Hill Airport - but the majority are students such as myself.
The reasons behind the collapse of the business and the subsequent problems created are probably best not discussed here. Suffice to say that anyone who owns an aircraft and leases it to a third party company should make sure they understand the implications of the company accruing debts using that aircraft and then going bust......