Paul Stoddart’s European Aviation is close to reacquiring Bournemouth-based European Cargo out of administration, in a move that could return the converted Airbus A340-600 freighter operator to the UK cargo market. The prospective deal, which could cover about 16 aircraft, is understood to include around seven flight-ready jets, although the precise fleet composition has not been disclosed.
European Cargo entered administration in June after financial pressure and reduced flying activity forced it to cease trading, with close to 200 employees made redundant. Teneo Financial Advisory was appointed to handle the insolvency process. The carrier last operated revenue flights in May and had built its business around A340-600 freighters originally developed during the pandemic to carry medical supplies from Asia to the UK.
A completed transaction would revive one of the UK’s most unusual cargo operations, centred on four-engined freighters that have become increasingly uneconomic to run compared with newer twin-engine types. Any restart would still depend on regulatory, financial and operational approvals, and no acquisition had yet been finalised.