Classic Airways, the London Stansted-based charter carrier which began operating in October 1997, has applied for administrative receivership while it seeks a fresh financing deal.

Its two aircraft, Lockheed L-1011 TriStars leased from Equis of the USA, have been grounded at Stansted since 20 August after British World Airlines suspended its permission for Classic to operate on its air operator's certificate.

The move followed a dispute between Classic's owners and Marshall Aerospace.

Source: Flight International