Blink Ltd (05940317): administration
- Status
- Administration ended
- Administration began
- 2018-07-04
- Administrators' firm
- Insolvency Practitioners of CVR Global
- Formerly
- Flyexalt Limited
- Incorporated
- 2006-09-19
- Location
- London
- Industry
- 51102 Non-scheduled passenger air transport
Why it went into administration
- Property / lease costs
- Brexit
From the administrators' statement
2.1 Our knowledge of the circumstances leading to the Company’s insolvency is currently limited, and we are therefore able to provide only limited information to creditors at this time.
The Company was incorporated on 19 September 2006 and its principal activity was the provision of air taxi private jet travel using Cessna Citation Mustangs. The Company was founded by Peter Leiman and Cameron Ogden. In October 2016, the Company was acquired by Wijet Group. The Company traded from rented premises at Terminal Buildings, Blackbushe Airport, Blackwater, Camberley, GU17 9LQ.
We are informed that throughout 2017, the Company experienced a strain on its cash flow arising from problems with its cost structure and integration issues into the Wijet Group, which could not be resolved. We understand that directors were also concerned about the effect Brexit may have on the Group’s UK operations.
Administrators' statement of proposals (2018-09-06) · Companies House register