Avient owes over £20m

MORE than £20m is owed to creditors of a Zimbabwe-registered, UK-headquartered cargo airline, which entered administration this year.
Administrators of DC-10F operator Avient are not certain how much the failed company owes, as its accounting records have not been updated since May of last year.
The debt includes £19.1m due to trade and expense creditors. The administrators are now working with AV Cargo Airlines, a new entity established by Avient’s directors.
A total of 18 staff at its UK base, which includes sales, marketing and administration functions, have been made redundant and the carrier’s operational hub in Belgium has been closed.
Creditors are to be asked whether to accept an agreement with AV Cargo or require an immediate winding up and liquidation of Avient.
Share this story

Related Topics

Latest news

CharterSync reaches 100 aircraft milestone

By Damian Brett

Digital charter platform CharterSync now has 100 aircraft registered on its system. The company, which was launched six months ago,…

Read More

Share this story

Freighter conversions fall away sharply in 2019

By Greg Waldron - Flight Global

Freighter conversions fell 33% in 2018, with declines in the widebody, narrowbody, and regional aircraft freighter segments. Cirium fleets data…

Read More

Share this story

Cargo conversion market hit by B737 Max grounding

By Cirium via Flight Global

Conversion firm Aeronautical Engineers has said that the grounding of Boeing 737 Max aircraft has hit the supply of feedstock…

Read More

Share this story