Cutthroat competition and unprofitable contracts have forced aviation logistics group Global Eyes into administration with the loss of more than 80 jobs.

Global Eyes Logistics, which is owned by parent company EMT (UK), specialised in transportation and support services to the aviation industry, servicing more than 30 UK airports each day.

It operated 23 vehicles and nine trailers.

The company, which has bases in Tamworth, Dunstable and Glasgow, had been struggling to balance the books for sometime, according to administrators BDO, after taking on a number of significant contracts with low margins.

BDO administrator Kim Rayment told “It is a very competitive marketplace and the company was pitching at too low a price to be competitive.

"There were two contracts, in particular, which were not good contracts, in terms of pricing. These unfortunately led to a series of losses over a number of months.”

Global Eyes Logistics reported a £6.6m turnover in 2014, compared to £6.9m in 2013. Pre-tax losses in the same period soared from £30,878 in 2013 to £187,951 in 2014.

Rayment said there was little if any prospect of the company being acquired as most of the its clients had already made alternative arrangements.

“The business will be closed down and all of the staff made redundant. I do not believe the business will be sold.”

He added: “Most of the customers had contingency plans in place as they had already seen the writing on the wall. We tried working with them but they already had alternatives up and running.”

So far 83 of the 89 staff at the company have been made redundant with the remainder retained to help with the administration process.

In July this year Global Eyes secured a major contract with A J Walter Aviation to help service its maintenance and inventory management deal with EasyJet.

Global Eyes MD Jo Day said at the time that the deal secured the company’s place as “the leading transport support provider to the airline industry”.

The firm’s clients also included Honeywell Logistics, Thomson Airways, G Squared Aviation and Thomas Cook.