Thames Valley Police have confirmed they are to launch a fraud probe into the Varsity Express airline following its collapse last week. The venture – which offered passengers flights between Edinburgh and Glasgow – collapsed after just one week, with allegations from customers over financial irregularities.

An airline entrepreneur dubbed “Baby Branson” after launching a low-cost carrier as a teenager is back in business following the collapse of his first venture. Martin Halstead is launching Varsity Express next month, offering flights between Oxford and Edinburgh.