UK regional airline Flybe slumps into bankruptcy for second time in 3 years

It relaunched in April last year, flying many of the same routes out of Belfast, Birmingham and London Heathrow

Air travel, Flight, Aviation
Flybe returned to the skies less than 12 months ago with a plan to operate up to 530 flights per week across 23 routes
AP London
2 min read Last Updated : Jan 28 2023 | 4:57 PM IST

Struggling UK regional airline Flybe collapsed for the second time in three years Saturday, putting jobs on the line and leaving passengers stranded.

The airline initially slumped into bankruptcy in March 2020, shedding 2,400 jobs, as coronavirus restrictions decimated the travel industry.

It relaunched in April last year, flying many of the same routes out of Belfast, Birmingham and London Heathrow.

In a statement, the grounded flyer said it had called in bankruptcy accountants again, and warned passengers not to travel to airports as all flights were now cancelled, including its international routes from Switzerland and the Netherlands.

The UK's Civil Aviation Authority said passengers should make their own alternative travel arrangements via other airlines, rail or coach operators, leaving customers with lengthy and potentially expensive trips to get home.

CAA consumer director Paul Smith said: 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 of its employees and customers.

Flybe returned to the skies less than 12 months ago with a plan to operate up to 530 flights per week across 23 routes.

Its business and assets were purchased in April 2021 by Thyme Opco, which is linked to US hedge fund Cyrus Capital.

The UK government said that its immediate priority would be to support anyone trying to get home and those who have lost their jobs.

This remains a challenging environment for airlines, both old and new, as they recover from the pandemic, and we understand the impact this will have on Flybe's passengers and staff," it said.

The Civil Aviation Authority is providing advice to passengers to help them make their journeys as smoothly and affordably as possible.

It added that most of Flybe's destinations were within the UK, so alternative means of transport were available.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Civil Aviationairlines

First Published: Jan 28 2023 | 4:57 PM IST

Next Story