Flybmi, British regional airline has fallen into administration after being badly affected by fuel rises, carbon costs and uncertainty of Brexit.
Last year, 29,000 flights were ran by the company, with 522,000 passenngers.
376 staff are employed by the East Midlands based airline, which flew to 25 European cities via its 17 planes.
It has been said on behalf of The British Airpline Pilots Association that the employees are devastated, as they had no warning. Administrators will be prioritising employees and their impact - can their jobs be saved?
All flights have been cancelled, with affected passengers being told to directly contact their travel agents, insurance or credit card companies, regarding advice and the next steps. Many are left dissatisfied, with this shock leading to cancelled plans and angry familes who have to search alternative options - particulary a concern with the vast amount of holidays being booked in advance of the school half-terms next week.
Who will see this as a benefit? Which airline will take on these extra flights? The airline industry is one to be watched...