- European Aviation is close to reacquiring European Cargo which entered administration in June 2026
- Paul Stoddart had sold his stakes in 2022 and 2024 leaving Priority 1 Logistics as sole shareholder before its liquidation
- The sale package includes 15 A340s, 82 Rolls-Royce Trent 500 engines and the UK AOC
- The carrier began operations in April 2020 for COVID-19 medical equipment transport
- The airline primarily operated e-commerce cargo services between China and UK airports
European Aviation has moved closer to reacquiring Bournemouth based freighter operator European Cargo, which entered administration in June 2026, according to Sky News sources. The company, controlled by former Formula One team owner Paul Stoddart, has been expected to announce a rescue deal for the struggling cargo carrier. Stoddart had previously sold a 49pc stake in European Cargo in 2022 and the remaining 51pc in 2024, leaving Priority 1 Logistics as the airline’s sole shareholder before that entity entered liquidation in July 2026.
Administrators had prepared to sell the company’s portfolio of 15 A340 aircraft and 82 Rolls-Royce Trent 500 engines, with bids invited for multiple assets. The sale package included six A340-600(P2F)s in flight-ready storage, three A340-500s, six A340-600s in long-term storage, one A340-600 designated for spares, a substantial engine inventory, spare parts, the English AOC, Part 145 maintenance approval, Continuing Airworthiness Management Organisation approval, and the business as a going concern. Neither European Aviation nor the administrators have publicly commented on the reported transaction.
European Cargo had registered in December 2020, having commenced cargo operations in April of that year in response to COVID-19 medical equipment transport requirements, and received its English AOC in August 2021. The carrier had built its business around A340-600 passenger aircraft acquired from Virgin Atlantic and Iberia, initially using them as temporary freighters before obtaining certification for a permanent passenger-to-freighter configuration. The airline primarily operated e-commerce cargo services between China and airports at Bournemouth and Teesside.
Paul Stoddart shared “European Aviation has been working diligently with administrators to structure a transaction that preserves the operational capabilities of European Cargo and maintains the value of its substantial fleet assets for the UK air cargo sector”
