Budget airfare company Bestjet has collapsed just six weeks after it changed hands, sparking fears Australian travellers may be left stranded over Christmas.

The Queensland-based company’s website is currently offline, with the Australian Securities and Investments Commission (ASIC) listing its status as under “external administration”.

9News understands Bestjet Travel Pty Ltd was yesterday put under the administration of Pilot Partners, a chartered accounting firm in Brisbane.

9News has contacted Pilot Partners for comment.

Have you been affected? Contact the reporter at rlentini@nine.com.au or on Twitter @rosielentini.

Bestjet was sold to McVicker Investment Group just six weeks ago, according to Travel Bulletin.

“We have a global vision and are excited about the future of Bestjet under the McVicker Investment Group Portfolio,” Robert McVicker Sr told the magazine.

“I see great opportunities to employ additional staff members within the company to expand the business further.”

Bestjet Travel was founded by Rachel James, the wife of disgraced former Air Australia boss Michael James, just weeks after the airline’s collapse in 2012.

Air Australia was $97 million in debt when it went into voluntary administration, with Mr James disqualified by ASIC from managing corporations for three years.

The Australian Federation of Travel Agents stripped Bestjet of its industry accreditation more than 18 months ago.

This meant Bestjet was banned from using the 'ATAS - travel accredited' branding, a symbol of quality and professionalism.

Bestjet took legal action against the AFTA, but the Supreme Court ruled in the industry body’s favour, AFTA chief executive Jayson Westbury told 9News.

“We believed Michael James had an active involvement in the management of Bestjet and that hadn’t been disclosed and he was bankrupt at the time,” Mr Westbury said.

Mr Westbury recommends that consumers who have booked flights through Bestjet to confirm their bookings with the relevant airline before their travel date.

“I have a heavy heart that at Christmas time, consumers are faced with this,” Mr Westbury said.

“Not all travel agents in Australia are accredited and we take accreditation seriously.”

Bestjet customers in the past have flooded consumer review websites forums with complaints about the company, criticising its customer service and hidden fees and charges.