European Cargo airline enters administration

Key facts

• European Cargo, founded by Paul Stoddart, has entered administration.
• The airline began operations in 2021 with A340-600 aircraft.
• All six A340 freighters were parked in May 2026.
• The company entered administration on June 3, 2026.
• Some staff members were laid off on the day of administration.

European Cargo, an airline founded by former Formula One team boss Paul Stoddart, has entered administration. The company, which began operations in 2021 with a fleet of A340-600 aircraft, entered administration on June 3, 2026. At least some staff members were laid off on the day of the filing.

The airline was founded in December 2020 and deployed A340-600s in a freighter configuration during the COVID-era boom for cargo business. It later added six converted A340-600(P2F)s, while the makeshift freighters were retired. All six A340 freighters were parked in May 2026. The last revenue flight was operated on May 19, 2026.

Paul Stoddart, an Australian businessman, is known for his involvement with the Minardi Formula One team and European Aviation. European Cargo was transferred to lessor European Aviation, where Stoddart is owner and CEO. Douglas Lloyd Brennan acquired a minority stake in February 2022, and since late 2024, the airline has been co-owned by The Law Debenture.