aviation industry

UK airline Flybe eyes return to skies after rescue

Agence France-Presse

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UK airline Flybe eyes return to skies after rescue

Flybe aircraft are pictured on the tarmac at Exeter Airport in Exeter, England, on March 5, 2020, following the news that the airline had collapsed into bankruptcy. - British regional airline Flybe crashed into bankruptcy Thursday after the deadly coronavirus proved to be the final nail in its coffin. The biggest operator of UK domestic flights said it has sunk into administration -- a last-ditch process aimed at salvaging at least some of the company. (Photo by GEOFF CADDICK / AFP)


Flybe could 'restart operations as a regional airline in the UK' in early 2021

United Kingdom airline Flybe, which crashed into bankruptcy as the coronavirus crisis erupted, could return to the skies early next year under a rescue by an ex-shareholder, administrators EY said on Monday, October 19.

A former leader in the UK domestic flights sector, Flybe had already been struggling before its collapse in March owing largely to fierce competition.

EY, the administrators brought in to salvage parts of the company, said assets including the airline’s brand name had been bought by Thyme Opco for an undisclosed amount.

The purchaser is linked to Cyrus Capital, which was part of a Virgin Atlantic-led rescue of the airline last year.

EY said in a statement that the latest rescue “is expected to allow the Flybe business to restart operations as a regional airline in the UK under the Flybe brand in early 2021.”

Thyme Opco said that while the relaunched airline would be smaller than before, it expects “to create valuable airline industry jobs, restore essential regional connectivity in the UK, and contribute to the recovery of a vital part of the country’s economy.” – Rappler.com

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