MK Airlines enters liquidation after second CVA is blocked
Cargo airline is wound up after creditor successfully petitions High Court to prevent a second CVA
Air cargo operator MK Airlines is to be liquidated after a failed attempt at
a second company voluntary arrangement (CVA).
John Alexander, of Carter Baker Winter, and Stephen Katz, of David Rubin
& Partners, were appointed joint liquidators earlier this month after one of
the airline’s creditors successfully petitioned the High Court to set aside a
CVA agreed in June.
The failed CVA was its second in recent history, with the company having
completed an earlier CVA in February after entering administration in June 2008.
The airline, which had five UK operations, eight 747 aircraft and three 727
aircraft, made its 360 employees redundant before entering liquidation.