Australia's SkyAirWorld has gone into voluntary administration after GE Commercial Aviation Services (GECAS) repossessed its five aircraft.
The Brisbane-based airline has appointed Peter Lucas of Brisbane accounting firm PA Lucas and Co as administrator, says an official who works in Lucas' office.
SkyAirWorld's decision to bring in the administrators comes after GECAS, in the week commencing 9 March, repossessed the airline's five aircraft.
The airline had two Embraer ERJ-145s, one Embraer 170 and two Embraer 190s on lease from GECAS.
SkyAirWorld had done charter work for other carriers such as Solomon Airlines and Air Niugini,did mining charters and operated some scheduled services.
But late last month the airline retrenched 40 of its 120 staff and grounded all its operations.
At the time SkyAirWorld's CEO and founder, David Charlton, said the airline was still committed to the launch of services to Christmas Island and the Cocos (Keeling) Islands from Perth on 3 April using an E-190.
This is a charter contract the airline won in January from the Australian Government.
SkyAirWorld was also planning to launch a scheduled service later in the year on the Darwin-Dili-Denpasar Bali route on behalf of start-up Timor Air.
Charlton was unavailable for comment today.