Citywing, an Isle of Man-based virtual airline, has ceased trading and gone into liquidation.
Being a virtual airline, Citywing had no aircraft. Instead, the company used a separate airline to operate flights on its behalf.
All its flights from Saturday 11 March have been cancelled.
Citywing said the decision was made after the airline which used to operate its flights, Van Air, had its permission to fly suspended – Citywing acted as a booking agent for flights using Van Air planes.
The Civil Aviation Authority (CAA) suspended Van Air’s license to fly in the UK after a flight from the Isle of Man to George Best Belfast City Airport was forced to turn back because of high winds.
The company sold flights between the Isle of Man and various UK destinations.
Because of difficulties trying to source suitable alternative aircraft, the virtual airline suffered considerable losses and decided to go into liquidation.
Citywing released a statement on Friday saying: “The company has tried to offer a service while suffering considerable losses but these have proved unfortunately to be commercially unsustainable.
“It is therefore with much sadness and deep regret that the directors of Citywing Aviation Services Limited have had to take the difficult decision to close the company today and put the company into liquidation.
“This decision has not been taken lightly and has been made to protect creditors.
“On behalf of all at Citywing, we all apologise for the inconvenience caused and thank you all for your support over the last four years.”