All 12 staff at Excelsis Airways have resigned after claiming they have never been paid.
In a statement, the 12 employees also said owner Victor Bassey had failed to provide funding for the company or its creditors.
Excelsis planned to resume commercial flights between Durham Tees Valley Airport and London, which were lost when bmi axed its Heathrow route in February. In July the airline said it aimed to create several hundred jobs flying to London City airport.
Bassey has declined to comment and Cleveland Police said they were investigating the matter.
A spokesman for Durham Tees Valley airport said: “In the case of Excelsis Airways, airport representatives did have initial meetings with Mr Victor Bassey.
“Following the announcement by Excelsis of the appointment of a senior management team it was hoped to have further discussions but arrangements for meetings were cancelled by Excelsis.”
Excelsis’ website states that it is in the process of obtaining its operating licence, but it is not possible to click through to various sections of the site.
