A TEENAGER who conned British aviation bosses into believing he was a tycoon with designs on setting up his own airline will not face prosecution, police have said.

A teenager who conned British aviation bosses into believing he was a tycoon with designs on setting up his own airline will not face prosecution, police said today.

A UK airline which specialised in providing back-up planes to other carriers has gone into receivership with the loss of 320 jobs.