Up to 120 staff at the Darwin-based commercial airline Vincent Aviation Australia have lost their jobs as the company today announced it has gone into receivership.

An email sent to airline staff says their employment is terminated from today.

The receivers, BDO, told staff their wages had been paid up until last Sunday and payment of their entitlements will be a priority.

Staff have also been told to return any company-owned assets such as motor vehicles, keys, laptops and computers.

It is understood about 120 jobs have been lost in Darwin, and one source says there is nothing left to sell of the company.

Vincent Aviation has been been flying to metropolitan and regional centres across Australia and recently expanded services between Groote Eylandt in the Northern Territory and Cairns in Queensland.