JetBird, a low cost private jet company based in Dublin, has put approximately 40 staff on protective notice. The company is owned by Irish investment group Claret Capital and a number of private investors.

The firm was planning to launch its service, starting in Germany, in September of this year but has had difficulties raising funding thought to be in the region of €10m.

It is understood the company, based in Eastpoint Business Park, is still working on raising the funds.