from air cargo news
MK Airlines has suspended all flying after the struggling cargo carrier failed to secure sufficient funding to continue its operations.
The struggling UK-headquartered B747-200 freighter airline only exited administration last June with the promise of new investment. However, this appears to have failed to materialise and the future is now in extreme doubt.
Air Cargo News believes that the UK Civil Aviation Authority (CAA) visted MK's headquarters last week after learning that the airline was under financial stress. It is believed that staff salaries had been unpaid for several months and fuel and handling bills were also in arrears.
The airline is believed to have had until today to find new investment, but failed – the CAA having no alternative but to suspend the airline's operating certificate.
In a statement, the airline's prime customer – Panalpina – said: "Panalpina has been informed by its partner MK Airlines that the carrier is temporarily suspending its operation due to a lack of adequate resources. According to MK Airlines it cannot maintain a service and safety level expected.
"Panalpina and MK Airlines have been close partners for many years, cooperating mainly on the traderoute between Europe and Africa. Panalpina has secured sufficient capacity to guarantee its customers uplifts and highest service quality as usual. The company has worked out alternatives for the short-, medium- and long term, ensuring a smooth service for all customers."