Astraeus Airlines in administration

Crawley-based Astraeus Airlines has ceased all operations and has been placed in administration.

The company, which is owned by Icelandic travel group Eignarhaldsfelagid Fengur HF, was founded in 2002 and since 2008 had leased aircraft to airlines such as bmi and Iceland Express.

Astraeus chief executive Hugh Parry said: ‘We battled hard to save Astraeus, but lower-than-expected levels of business during the summer of 2011, a lack of contracts for winter 2011-2012, and some extremely bad luck with a number of technical issues mean that we have no option but to cease all operations and put Astraeus Airlines in the hands of the administrators.

‘Every effort has been made to ensure that any passengers affected already have or will be able to complete their journey.’

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