UK airline Flybe eyes return to skies after rescue

UK 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 Monday.

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 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 "is expected to allow the Flybe business to re-start 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".

Explore further

UK airline Flybe dealt final blow by coronavirus

© 2020 AFP

Citation: UK airline Flybe eyes return to skies after rescue (2020, October 19) retrieved 21 October 2021 from
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

Feedback to editors