Swiss operator PrivatAir has filed to commence insolvency proceedings. Created in 1977, it directly employs 226 staff in Switzerland, Germany and Portugal, and also provides work for 65 crew members for its Jeddah to Riyadh shuttle via an external contract. Its German subsidiary will also close its doors.

A statement reads: "Over the past few weeks, a number of events have had a significant impact on the companies’ future

business forecast and viability, which forced the companies to file for insolvency.

"It will remain known as a truly unique company built by amazing people who showed extreme dedication to their work and unmatched service levels, and proved many times that the impossible in aviation could be made possible."