One of Flybe’s shareholders is reportedly in talks with the business’ administrator about a bid to resuscitate the airline.
Sky News speculates that hedge fund Cyrus Capital is behind the move and intends to revive Flybe as a pared-back company.
In early March, British regional airline Flybe became arguably the first major airline casualty of the coronavirus pandemic when the business plunged into administration, resulting in 2,300 job losses.
It was then Europe’s largest regional, carrying 9 million passengers per year and accounting for around 40 per cent of domestic flights in Britain.
It served more than 80 airports including Belfast, Birmingham, Exeter, Manchester and Southampton. Since then, more than a dozen Flybe route’s were taken on by rival Loganair.
The administration came just two months after the UK government announced a rescue package for Europe’s largest regional carrier, including government tax deferrals, reduction of air passenger duties, alongside a cash injection from private shareholders.
Flybe has entered administration.
All Flybe flights are cancelled. Please do not go to the airport as your Flybe flight will not be operating.
For flights operated by franchise partners, passengers should make contact with their airline.#Flybe pic.twitter.com/O9vQ7mvnR8
— UK Civil Aviation Authority (@UK_CAA) March 5, 2020
The UK’s Civil Aviation Authority announced the news, dramatically telling passengers on Twitter, “Please do not go to the airport.”
