The airline said it was ceasing trading and cancelling all flights, affecting 75,000 passengers.
A report of fraud has sparked a mass sell-off in businesses led by Indian billionaire Gautam Adani.
Tufan Erginbilgic told staff they faced their “last chance” to turn the engineering company around.
Businesses could be named and shamed for flouting rules but critics say the those rules need strengthening.
The chancellor, who outlined a growth plan, says there will be little room for cuts in March.
In total, 38 of these shared branches have been announced so far, but only four have opened.
Those on the lowest incomes are being hit hardest by tax penalties, a non-profit says.
This follows reports that rising costs could mean the rail link might stop in the suburbs of west London.
The Coventry-based firm said tough market conditions had forced a review of the business.
The head of the business lobby group claims the world of work has “gone crazy” since the pandemic.
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