charter company Jet Republic has ceased trading and
become technically insolvent, it
reported last week that the business airline (http://www.conference-news.co.uk/Pages/newsSelect.jsp?newsID=367)
had cut the price of its aircraft hire by 14 per cent to €99,000 (£85,192).
The business launched by former RAF pilot Jonathan Breeze in the height of the
financial downturn last September.
In a staff email, Breeze said: “It is with
great regret that I announce that Jet Republic appears to be technically
insolvent. The business expected to receive funds today that have not arrived,
nor do we expect them to arrive in the immediate future.”