UK wet-lease carrier Ascend Airways has collapsed into liquidation, surrendering its Air Operators Certificate to the UK Civil Aviation Authority on April 28, 2026. The London Stansted-based airline, part of Avia Solutions Group, operated a fleet of six Boeing 737 MAX 8s and one 737-800 on an ACMI basis for clients including TUI Airways, Oman Air, Air Sierra Leone, and SpiceJet.
All aircraft have been returned to lessors, with the status of the companys 161 employees uncertain, though most are expected to lose their jobs. Staff had been paid in full prior to the closure announcement.
Accountants at Price Bailey, acting for Ascend, attributed the failure to high jet fuel prices driven by Middle East geopolitical tensions, which have led to capacity reductions ahead of summer. They noted structural challenges for UK AOCs in the European ACMI market, including lack of reciprocal wet-leasing rights, higher costs, and reduced agility compared to EU certificates. Reliability issues with CFM LEAP engines on the 737s increased maintenance needs and cut aircraft availability.
Sources told The Sun that Ascend failed to secure summer contracts, as EU carriers operate at 40% lower costs, amid soaring UK employment expenses, unpaid leasing bills, and declining ACMI demand. An industry insider said the airline had lost over £3 million monthly since early 2026. Efforts to gain an IOSA certification in March and negotiate with rescue partners failed, sealing its demise after three years of operations.