LONDON- Global Airlines, the UK startup built around one Airbus A380, is in liquidation after a court approved a winding-up order on November 4, 2026.
The airline flew only two round-trip charters in May 2025, linking Glasgow (GLA) and Manchester (MAN) with New York (JFK), operated by Hi Fly (5K).
Global Airlines Compulsory Liquidation
The High Court of Justice has issued a winding-up order against Global Airlines Ltd, formally placing the company into compulsory liquidation.
According to the official notice published in The London Gazette on 12 November 2026, the court approved the winding-up order on 4 November 2026. The legal proceedings followed a petition filed on 29 May 2026 by creditor Jessica Huffman Reese.
The case was registered under number 004213 of 2026 and concerns Global Airlines Ltd, company number 13508008.
According to OMAAT, the liquidation order was the result of several months of legal proceedings. The petition initially came before the court in July 2026 and was subsequently adjourned following a hearing on 23 September.
The case was listed for another hearing on 7 October before the court eventually approved the winding-up order in November.
The November decision also followed earlier insolvency proceedings against the company. Global Airlines had faced two previous winding-up petitions, filed in August 2025 and March 2026. Both were subsequently withdrawn. The petition filed in May 2026 was the third such application against the company in just over a year.
Former Global Airlines directors Tom Stokely and Prashant Uttamchandani also joined the latest proceedings as supporting creditors. Their involvement added further significance to the company’s financial difficulties.
With the court approving the winding-up order, Global Airlines has now entered formal compulsory liquidation rather than simply facing another creditor petition.
Official Receiver Takes Control of Company’s Affairs
The winding-up order transfers control of Global Airlines’ affairs to the liquidator.
The official notice identifies V Prime as the Official Receiver and records its appointment as liquidator on 4 November 2026. The appointment follows the compulsory liquidation process under UK insolvency law.
The liquidator will take responsibility for securing the company’s assets, reviewing its financial records, handling outstanding obligations and examining the circumstances surrounding its failure.
The investigation will also consider the company’s financial affairs and the conduct of its directors. Company directors must provide the required records, financial information and cooperation throughout the liquidation process.
Once the liquidation takes effect, the directors no longer have control over the company’s business or assets. They cannot continue acting on behalf of the company or independently decide how its remaining assets should be used.
The liquidator will identify available assets, establish creditor claims and distribute any recovered funds according to the applicable legal priorities.
The process will also help establish the company’s financial position and the extent of its outstanding liabilities. The published winding-up notice does not specify the total amount owed to creditors or how much they may eventually recover.
Companies House lists Global Airlines’ registered office as First Floor, 3 St. Michael’s Alley, London, England, EC3V 9DS. This is the company’s registered address rather than independent confirmation of its operational headquarters.
Global Airlines Operated Only 2 Return Flights to New York
Global Airlines attracted attention with its plan to introduce a new long-haul airline built around the Airbus A380. Founder James Asquith promoted the concept as an opportunity to bring back a premium travel experience inspired by the golden age of aviation.
However, the company never established independent passenger operations under its own Air Operator’s Certificate (AOC).
Instead, Global Airlines relied on Hi Fly Malta, which operated its initial passenger services under a wet-lease arrangement.
A wet lease involves providing an aircraft together with its crew, maintenance and insurance, allowing another company to market or arrange the service without operating the aircraft independently.
This meant that the May 2025 flights were technically operated by Hi Fly Malta, rather than by Global Airlines under its own operating certificate.
The airline completed 2 return charter journeys between the United Kingdom and the United States:
Glasgow to New York
- 15 May 2025: Glasgow Airport (GLA) to John F. Kennedy International Airport (JFK).
- 19 May 2025: John F. Kennedy International Airport (JFK) to Glasgow Airport (GLA).
Manchester to New York
- 21 May 2025: Manchester Airport (MAN) to John F. Kennedy International Airport (JFK).
- 25 May 2025: John F. Kennedy International Airport (JFK) to Manchester Airport (MAN).
All four passenger sectors were operated using the Airbus A380 registered 9H-GLOBL.
These services generated publicity for Global Airlines and demonstrated that the company could arrange passenger flights using its aircraft. However, they remained limited charter operations rather than the beginning of a regular scheduled airline network.
The distinction is important because Global Airlines had not secured its own AOC or established the regulatory and operational framework required to run an independent airline.
Airbus A380 Long-Term Storage
Shortly after completing its May 2025 passenger operations, Global Airlines’ only Airbus A380 returned to storage.
The aircraft, registered as 9H-GLOBL, initially remained at Dresden Airport (DRS) in Germany before moving to Tarbes-Lourdes-Pyrénées Airport (LDE) in France on 16 July 2025.
It remained out of passenger service while awaiting a major heavy maintenance check.
The required maintenance represented a substantial technical and financial commitment. Heavy maintenance on an Airbus A380 involves specialised engineering work, suitable hangar facilities and access to experienced maintenance providers.
Founder James Asquith attributed the prolonged delay to difficulties securing suitable maintenance capacity. The company maintained that the aircraft needed to complete the required work before returning to passenger operations.
However, the extended period in storage prevented Global Airlines from developing a regular flight schedule or generating passenger revenue through its proposed airline operations.
The aircraft’s inactivity also raised questions about the company’s ability to support its original business model. With only one aircraft available, the entire operation depended on returning that A380 to service.
Without a completed maintenance programme, Global Airlines could not move beyond its limited charter activities.
Maldives Flight Plans
Despite the prolonged delay, James Asquith continued to discuss plans to restart the airline.
In July 2026, aviation reports indicated that Global Airlines was targeting a return to service before Christmas 2026. The proposed strategy involved shifting attention towards the Maldives rather than concentrating exclusively on its original transatlantic ambitions.
Asquith suggested that the Maldives offered an opportunity to serve a long-haul leisure market with the Airbus A380.
However, the aircraft still needed to complete its heavy maintenance work before the company could resume passenger operations. The A380 remained grounded in France, and the proposed return date depended on resolving the outstanding maintenance requirements.
This created a significant gap between the company’s public plans and its operational position.
Global Airlines had discussed launching new international services while its only aircraft remained out of service. Its proposed Maldives operations had not developed into a confirmed regular flight schedule before the court issued the winding-up order.
The liquidation decision has therefore ended the immediate possibility of Global Airlines resuming operations through its existing company structure.
James Asquith’s Public Wealth Estimates
The Global Airlines story also attracted attention because of the public profile of its founder, James Asquith.
In 2025, Asquith appeared in The Sunday Times Rich List 40 Under 40 ranking. The published list estimated his wealth at £183 million, placing him 25th among the individuals featured.
That position was one place above singer Adele, whose estimated wealth was listed at £170 million.
These figures were published wealth estimates rather than independently verified evidence of available cash or personal funds. Nevertheless, Asquith’s appearance on the list contributed to the public profile surrounding Global Airlines and its founder.
The original criticism of the venture was not based on opposition to airline innovation or the possibility of a new company succeeding in a competitive market. It focused on the gap between ambitious business claims and the practical evidence needed to support them.
Global Airlines generated significant attention through its A380 plans, promotional activity and statements about future operations. However, a credible airline business requires more than an aircraft and an attractive passenger proposition.
It also needs sufficient funding, regulatory approvals, maintenance arrangements, operational expertise and a realistic path towards sustainable revenue.
The company’s limited operating history made those questions particularly important.
Some aviation coverage presented the venture in highly positive terms. The original commentary questioned whether that coverage applied enough scrutiny, specifically citing reporting by Simple Flying and aviation commentator Captain Chris’s comparison of Asquith with entrepreneur Richard Branson.
Such comparisons and promotional narratives are matters of editorial judgment, not evidence of financial wrongdoing. However, they highlight why investors and readers should distinguish between a company’s ambitions and its demonstrated operating performance.
The liquidation process may provide further information about the company’s finances, business decisions and relationships with creditors. The actual extent of investor losses and the amount creditors may recover remain to be established.
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