Overview
- Teneo partners Stuart Morris, Robert Fishman and David Soden were appointed joint administrators on Wednesday, June 3, and the company has ceased trading.
- Administrators have confirmed 178 redundancies and say affected employees, customers, suppliers and creditors are being contacted as a priority.
- Operations had already been grounded in May, with the carrier’s last recorded revenue flight on May 19 and five A340 freighters parked at Bournemouth and one at Teesside.
- European Cargo reported large losses for 2024, had not filed 2025 accounts, and administrators cite reduced flying activity, working capital shortfalls and rising fuel costs as drivers of the collapse.
- The collapse casts doubt over a recently announced Teesside–China cargo deal and leaves regional airports and local jobs exposed while administrators explore options including asset sales or liquidation.