From the BBC:
Middlesbrough airline boss admits fraud charges
A man who said he was setting up an airline to operate flights between London and Durham Tees Valley Airport has admitted a number of fraud charges.
Victor Bassey, 49, of Outram Street, Middlesbrough, pleaded guilty to eight charges at Teesside Crown Court.
They included three of fraudulent trading, four of obtaining services dishonestly and one of possessing an article for use in fraud.
He set up Excelsis Airways but the flights were never started.
The trial started with Bassey denying all 11 charges but he later changed his plea to eight of them.
He pleaded not guilty to one other charge of fraudulent trading and two of obtaining services dishonestly. Prosecutors will offer no evidence on those charges.
He will be sentenced on 20 December