Proposed UK start-up carrier Excelsis Airways appears to have collapsed at the planning stage, after its management team resigned.
Sources familiar with the situation had indicated to ATI last month that chief executive Andreas Blass was planning to leave the airline, only weeks after being appointed.
But Excelsis admits today that the entire management team has stepped down after expressing strong concerns about the financing of the carrier, and reported the activities of its backer, Victor Bassey, to local police.
Excelsis had promoted itself as a regional operator with plans to link Durham Tees Valley Airport in the northern UK with London City.
But a spokesman for the company says: "Despite constant assurances and guarantees from the owner Victor Bassey about capital funding for the company, stretching back over the last three months, no money has been forthcoming.
"Throughout that time, and still to this day, no member of the Excelsis team has been paid a single penny, and no funds have been made available to meet the demands of an ever-increasing number of creditors."
Bassey could not be reached for comment. But Excelsis says that police in Cleveland as well as corporate regulatory authorities have both started inquiries.
In addition to Blass, who had previously served with Spain's Binter Canarias, the airline's management team had included chief commercial officer Keith Watson and flight operations director Andrew Bray.
Source: Air Transport Intelligence news
