A real shame to see European Flyers cease trading.
At least they have told it like it is:
"General Airline Ltd t/a European Flyers
"It is with enormous regret that European Flyers has suspended trading today.
"We have, in the past, overcome many setbacks but the realisation of the spiralling costs, in more than just financial terms, which are coming into play since the terror attack in the States - sharply rising insurance premiums, security regulations, safety perceptions - has beaten us.
"In the past 18 months not only, along with other FTOs, have we been badly affected by the appalling weather, the costs of implementing giant rafts of JAR rules and regulations, and the Inland Revenue demanding NVQ subsidies back but also the utter confusion in the marketplace, the overzealous implementation of JAR regulations by the CAA, including the Authority awarding JAR approvals to the US where the training is cheaper, the lack of movement on the NPPL and the "ten-a-day" miles of red tape the Government has heaped upon us and the major problems in instructor/ examiner/ training costs - the list is endless.
"The high cost of fuel (78% excise duty), the high cost of aircraft maintenance, and relate problems, along with rising airport costs - all these things have helped to place the cost of learning to fly outside the average person's pocket - all this has joined hands with a massive downturn in business across the board in General Aviation and we can no longer, personally, carry on subsidising a business which appears to have absolutely no light at the end of the tunnel and a black hole when it comes to costs.
"After discussions with our bankers we have been told to suspend operations and restructure the company