The Scotland-based startup Ecojet entered voluntary liquidation after failing to secure funding. On May 1, Paul Dounis and Mark Harper of Opus Restructuring were appointed as joint liquidators to wind up the company.
Ecojet, founded by Dale Vince in 2023, had plans to become the world’s first electric airline but went under last year. The company failed to secure £20 million in funding to launch its electric-powered routes, such as Edinburgh to Southampton.
The airline shut down without commencing any commercial operations.
Ecojet Has No Material Assets: Liquidators
Opus Restructuring stated that the start-up has no material assets. The company opted for liquidation to ensure that all employees receive their full entitlements.
“The members have elected to fund the liquidation process to ensure that the company’s employees receive their full statutory entitlements,” the statement read.
Vince’s Dream to Run Electric Planes Ends
The company had plans to cut aviation emissions and convert conventional aircraft into hydrogen-electric powertrains. It proposed initial flights between Edinburgh and Southampton, with long-term plans to expand into mainland Europe.
The company had earlier shared its idea of retrofitting older planes rather than building new ones, as this could potentially save 90,000 tonnes of carbon per year.
Founder Dale Vince previously stated that investors were committed to electrifying all forms of transport, calling aviation the last and hardest frontier.
“It’s taking longer than we hoped to get the technology and regulatory pieces of the puzzle in alignment, and so we’re pausing work at this time,” he said.
He also maintained that aviation is critical to achieving net zero and green living, adding that it is a matter of when, not if.
Earlier, US Airline Spirit Announced Shutdown
This marks another setback for the aviation industry. A few days ago, low-cost US carrier Spirit Airlines also announced it would cease operations after more than three decades.
The company said in a statement, “We are proud of the impact of our ultra-low-cost model on the industry over the last 34 years and had hoped to serve our guests for many years to come.”
The closure of Ecojet is a major blow to efforts to decarbonise air travel, widely considered one of the most difficult sectors to transition to net zero.
Tough Days for Airlines Continue
The global aviation industry is facing challenges due to high operating costs, evolving environmental regulations, and rising jet fuel prices amid geopolitical tensions.
Last week, Lufthansa also cut its Glasgow–Frankfurt route for winter 2026. Due to rising costs, the airline has been reducing routes across Europe. The last flight between Glasgow and Frankfurt operated on Sunday, May 31.
Who Founded Ecojet?
Dale Vince, founder of Ecotricity and a climate activist, launched Ecojet on July 17, 2023. He aimed to create the world’s first electric airline using aircraft powered by renewable energy.
