Labour Donor's Electric Airline Venture Enters Liquidation After Failed Launch
Plans for what was intended to be the world's first all-electric airline have been formally abandoned as EcoJet Airlines enters liquidation. The venture, launched in 2023 by entrepreneur and prominent Labour Party donor Dale Vince, has appointed joint liquidators following unsuccessful efforts to raise capital and commence operations.
Court Petition and Liquidation Process
Documents filed at Edinburgh Sheriff Court in late January reveal that a petition was brought to wind up the business, with joint interim liquidators appointed to oversee the process. Paul Dounis and Mark Harper of Opus Restructuring have been named as provisional liquidators for EcoJet Airlines.
Opus Restructuring confirmed that the liquidation was initiated voluntarily by the company's board of directors. The firm stated that EcoJet was a start-up business with no material assets, and that the members have elected to fund the liquidation process to ensure employees receive their full statutory entitlements.
Founder's Vision and Setback
Dale Vince, who also founded the green energy company Ecotricity, had ambitious plans for EcoJet Airlines. The airline intended to launch an initial route between Edinburgh and Southampton, with aspirations for mainland European and long-haul flights in the future. At the time of launch, Vince described electric aviation as "a vital frontier in the move to net zero" and insisted it was "absolutely doable."
However, the venture reportedly sought to raise £20 million in funding but ultimately failed to secure the necessary capital to proceed with commercial operations. EcoJet Airlines never launched any commercial flights, meaning no passengers have been affected by the liquidation.
Founder Insists on Pause Rather Than Abandonment
Despite the liquidation proceedings, Dale Vince maintains that he has merely "paused" investment into the electric airline concept rather than abandoned it entirely. In comments following the liquidation announcement, Vince acknowledged the challenges facing electric aviation, describing it as "the last frontier and the hardest" in transport electrification.
"It's taking longer than we hoped to get the technology and regulatory pieces of the puzzle in alignment," Vince explained. "And so we're pausing work at this time." He reiterated his belief that electric aviation remains "a matter of when not if" in the transition to net zero emissions.
EcoJet Airlines was majority owned by Vince's energy company Ecotricity, though the precise ownership structure and investment details have not been publicly disclosed. The liquidation marks a significant setback for efforts to decarbonize the aviation industry through all-electric commercial aircraft.
