[1] The company had its airline code changed to BGB accordingly,[5] but in March 2008, the rebranding was postponed indefinitely.
[1] Due to financial problems, MK Airlines had to suspend all flight operations on 10 June 2008, and went into administration.
[1] After an investment had been received from Trans Atlantic Aviation, a subsidiary of the Belfairs Group, a limited extent of operations could resume on 20 June of that year.
[1][6][7] An attempt was made to secure a company voluntary arrangement in order to be in a position to apply for a relaunch of operations.
The CVA was successfully challenged by creditors as having been irregularly conducted and was rejected by the High Court of Justice on 5 October 2010.