AOC issue
Just a thought. UKIA got their AOC last October to do that they had to comply with EU regulation and CAA regs on finnacial fitness. Basicaly they had to have sufficent cash to operate for the first three months with nil income and then have a robust business plan to operate for the first two years also the CAA set the level of capitalisation normally requiring a cash buffer in the account during that two years. One wonders what then has gone wrong?
Have a look at the CAA web site under consumer protection then Airline licensing.