Isle of Man airline EuroManx has ceased trading today, blaming rising fuel prices and falling passenger numbers.

The airline has become the latest airline casualty following the recent collapses of carriers Eos, Oasis, Nationwide and MAXJet.

Euromanx has provided services dedicated to the Isle of Man for the past five years.

A message on the airline’s website said: “It is with great regret that EuroManx has announced today that the company is ceasing operations forthwith with no further flights being operated.

“Employees have worked hard to develop and grow the business but over the last six months a number of factors including rising fuel prices and reduced passenger numbers have proved to be insurmountable obstacles to the airline being able to continue to operate.”

Low-cost airline FlyBe has stepped in to help stranded customers and has pledged to fly all the airline’s ticketed passengers to Liverpool, Manchester and London Luton or London Gatwick, where it has space available. EuroManx’s Belfast customers will be advised of alternative arrangements.

All passengers in possession of ticketed Euromanx bookings for Manchester and Liverpool flights can re-book with FlyBe for free before the end of June. Customers to London City will also be able to re-book with Flybe, subject to availability, for travel up until May 31.