Airlines Flybe enters into administration
British carrier Flybe has entered into Administration. All flights as of yesterday have been grounded.
Flybe announced on Thursday, that it had to stop all schedule flight activities as the airline has entered Administration. The carrier announced, that Alan Hudson, Joanne Robinson, Lucy Winterborne and Simon Edel of EV have been appointed as Joint Administrators.
The airline advised all passengers with Flybe tickets to not travel to the airport unless the person has arranged an alternative flight with another airline. Flybe said that it would not be able to arrange alternative flights whatsoever.
Customers are also advised to monitor the Civil Aviation Authority website for further information. All employees of the former company can write to an email account, the airline has opened. This is the same procedure for creditors and suppliers.
Flybe has been struggling with its finances over the past years already. Now, as the Corona-Virus is discouraging people to travel, the sunken demand for regional flights gave Flybe its deathblow. On Wednesday, the airline was still in good talks with possible credit grantors.
Flybe managing director Mark Anderson said, that the airline tried everything possible to avoid the insolvency. According to him, the airline was near to giving up in January already. In the past, Flybe was negotiating with the British government over a credit valued at 100 million pounds.
Back in 2019, British company Virgin Atlantic and Stobart Air announced to form a consortium named Connect Airways with plans to take over Flybe.
Flybe was the largest independent regional airline in Europe and was founded on November 1979 as Jersey European Airways. The carrier operated 36% of all UK domestic flights, carrying 26% of all domestic passengers.
The fleet consisted of 54 De Havilland Canada DHC-8-400 turboprops, nine Embraer ERJ-175s and two ERJ-195s. The airline served 56 destinations in Europe and had main operational hubs at Birmingham Airport, Manchester Airport and Exeter Airport.
Flybe was the largest airline at smaller UK airports. At Southampton for example, Flybe movements were 95% of all flights, in Belfast 80% and in Newquay 65%. Flybe is the fourth UK airline in the past years to go bankrupt, after Monarch, Thomas Cook and Fly BMI had to file for insolvency before.
Source © flybe.com