UK regional airline Flybe ceases buying and selling, cancels all flights

AFP

British regional airline Flybe on Saturday ceased buying and selling for the second time in three years, cancelling all flights and 276 employees made redundant.

An announcement on Flybe’s web site mentioned the airline, which operated scheduled providers from Belfast, Birmingham and Heathrow throughout the UK and to Amsterdam and Geneva, had entered administration, a type of safety from collectors.

“Flybe has now ceased trading and all flights from and to the UK operated by Flybe have been cancelled and will not be rescheduled,” it mentioned.

It suggested individuals attributable to fly to not journey to airports.

Headquartered in Birmingham, Flybe operated flights on 21 routes to 17 locations throughout the UK and European Union utilizing a fleet of eight leased Q400 turboprop plane.

David Pike and Mike Pink from Interpath Advisory have been appointed joint directors to Flybe.

Pike mentioned Flybe had struggled to resist various shocks since its relaunch final 12 months, not least the late supply of 17 plane from lessors which severely compromised its efforts to construct again capability and stay aggressive.

He mentioned scaled-back parts of Flybe’s working platform can be preserved for a brief interval whereas there was a chance of a rescue transaction. He inspired any get together to make contact urgently.

A spokesperson for Interpath mentioned of Flybe’s workforce of 321, 45 had been retained in the intervening time.

The UK Civil Aviation Authority (CAA) mentioned it will present recommendation and data to affected passengers.

“It is always sad to see an airline enter administration and we know that Flybe’s decision to stop trading will be distressing for all its employees and customers,” mentioned Paul Smith, CAA shopper director.

Hurt by Britain’s COVID-19 pandemic lockdown, Flybe first fell into administration in March 2020, impacting 2,400 jobs.

In October 2020 it was bought to Thyme Opco Ltd, a agency managed by Cyrus Capital, and in April 2022 it resumed flights, albeit on a smaller scale.

Flybe’s demise contrasts with a post-pandemic pick-up in demand for air journey.

Low price airways Ryanair, Europe’s greatest airline, and Britain’s easyJet have reported file bookings for summer season holidays, in an indication that buyers are nonetheless eager on journeys regardless of a looming recession.