The airline was grounded after a deal to sell it to a 26-year-old Isle of Man entrepreneur Jason Scales collapsed earlier this month.

Scales had formed a company called Ettyl to take over the airline, but Ettyl raised concerns with police about a proposed third-party funder.

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A Manx police spokesperson confirmed an investigation was underway but would not specify the alleged offences.

“There are numerous allegations that are being made, we are looking into all of them. We have no details to give out at this stage,” he said.

The deal involved a nominal £2 sale price, with the airline’s owners Esken effectively paying £49 million to Ettyl to take the carrier off its hands. A separate £15 million was payable for Carlisle airport, which was part of the transaction.

The majority of Aer Lingus Regional services have now been replaced by Aer Lingus mainline, British Airways City Flyer and Ryanair.