UK airline Global Airlines has ceased operations and cancelled future flights after being ordered into compulsory liquidation. The company ran out of money and could not pay its debts, meaning it could not launch a further flight schedule.
The High Court of Justice in London officially issued a winding-up order against the firm on Wednesday, November 4, after it could not pay its debts. Global Airlines, founded by James Asquith, aimed to operate a fleet of Airbus A380 superjumbos for luxury transatlantic travel. It operated a round trip from Glasgow to New York-JFK and a round trip from Manchester to New York-JFK.
Winding-Up Petition Confirmed
It has now been confirmed that a winding-up petition has been confirmed. Former directors Tom Stokely and Prashant Uttamchandani joined the case as supporting creditors and were represented by the law firm Katten Muchin Rosenman.
The company's bank accounts have now been frozen while its assets are sold off to repay creditors. Global Airlines still remains active on Companies House but its most recent accounts are overdue.
Airline's Statement and Operations
On its website, the airline said: "We want to deliver the Best Way to Fly. And whether flying Global Traveller, Business or First, we believe we will."
"Flying to a variety of destinations all over the world, we will breathe new life into onboard product and service, working with some amazing brands, delivering genuine value for money for our passengers. And by embracing the latest technology and deploying it across every touch point, we can work smarter and deliver a Global experience that is unique to you."
Global Airlines made its first flight from Glasgow to New York in May 2025. However, its aircraft were moved to Tarbes, France, two months later for maintenance. They have been grounded since and are now expected to be sold off to pay back creditors.
Industry Challenges
Although passenger demand is near record highs, the aviation industry continues to grapple with rising costs and production backlogs. Meanwhile, the US is facing a projected shortage of nearly 30,000 pilots by 2030.
The ongoing war in the Middle East has doubled jet fuel prices and caused labour costs to surge. Many low-cost airlines have struggled to make profits as a result. There is also a global backlog of over 18,000 aircraft orders. These include Airbus and Boeing, who face parts shortages, engine repair delays, and slow manufacturing speeds.
