Cello Aviation, based in the UK, has ceased trading immediately, according to an announcement made on Friday.
The British charter airline was based at Birmingham Airport and primarily operated private and VIP charters with two specially configured aircraft. The airline had a B737 and Avro RJ100. It also operated wet lease and full charter flights with the Avro RJ100 aircraft.
It is suggested that the TUI contract in Dublin cost the airline combined with no fuel hedging and rising fuel costs with the compensation required due to EU261 regulation on CLJ operated flights.