Aerotranscargo NL (ATC NL), which announced its launch to great fanfare in February. The court in Haarlem declared the company bankrupt on Thursday.

Its Moldova-registered parent had set up the Dutch subsidiary, to be headed by former Saudia Cargo boss Peter Scholten.

Aerotranscargo NL, which wanted to take advantage of the great demand for air cargo capacity, had ambitious plans. Within two years, the fleet was to be doubled to four 747-400s; in the longer term, growth was planned to 10 aircraft, including more fuel-efficient 747-8Fs and 777Fs.