Airline Flybe has gone into administration and cancelled all flights to and from the UK.
A statement on the airline’s website said it had “ceased trading” and told any passengers expecting to travel with it not to go to the airport.
It added that it would not be able to help passengers arrange alternative flights.
The UK Civil Aviation Authority said it would be on hand to provide advice and information to those affected.
It marks the second time the airline has gone into administration in recent years.
In March 2020, it announced it would cease trading, citing the coronavirus pandemic as a contributory factor.
The company was rescued after being bought by Thyme Opco, a firm linked to US hedge fund Cyrus Capital, and resumed operations in April of last year.
A statement published on the FlyBe website early on Saturday said the High Court had appointed joint administrators for Flybe Limited, the name given to Thyme Opco following the takeover.
“Flybe has now ceased trading and all flights from and to the UK operated by Flybe have been cancelled and will not be rescheduled,” it read.
“If you are due to fly with Flybe today or in the future, please do not travel to the airport unless you have arranged an alternative flight with another airline.”
It added that anyone who had booked a flight with Flybe via an intermediary should contact that intermediary directly.