A British airline has collapsed into liquidation following a reported attempt to raise £20million.

Scottish firm Ecojet Airlines had been heralded as the world's first all-electric airline, established in 2023 by entrepreneur Dale Vince, a prominent Labour donor and owner of Forest Green Rovers football club.

The airline harboured ambitious plans for long-haul flights and European routes, with an initial service from Edinburgh to Southampton mapped out. However, a petition was brought before Edinburgh Sheriff Court to wind up the business and appoint joint interim liquidators, according to documents from the end of January.

At the time of launch, Mr Vince stated: "This is a vital frontier in the move to net zero, green living, whatever you choose to call it - and it's absolutely doable. It's a matter of when, not if."

The Herald reports that Paul Dounis and Mark Harper, of Opus Restructuring, were appointed as provisional liquidators. Opus confirmed the action followed a "voluntary liquidation initiated by the company's board."

It added: "Ecojet was a start-up business and has no material assets. The members have elected to fund the liquidation process to ensure that the company's employees receive their full statutory entitlements."

Ecotricity proclaimed on its website at the time of the launch: "The move marks the beginning of an aviation revolution by making net-zero, emission-free air travel possible for the first time.

"Ecojet's fleet will comprise conventional planes retrofitted with hydrogen-electric powertrains. Once converted, the aircraft will operate with the same power output as before, but with a 100% reduction in CO2 emissions.

"The decision to repurpose old planes rather than build new models from scratch will save 90,000 tonnes of carbon per year. The only byproduct will be water, which can be captured and released into the lower atmosphere to avoid the harmful effects of contrails."