There will be no third take off for Flybe. Bankrupt for the second time in three years, the British airline had attempted a rebound a few weeks ago through negotiations between administrators and other companies. In vain.
“Over the last two weeks, we have had intensive discussions with several operators in order to save the airline and preserve the value of its assets. Unfortunately, the circumstances were difficult, including the rules for the use or loss of slots, the complexities associated with European recognition of a possible temporary operating license and the associated high costs,” said Administrator David Pike.
difficult circumstances
The way is therefore open to the liquidation of what was the largest European regional company with up to 530 weekly flights.
At the end of January, the company announced that it had ceased its activity and canceled all its flights.
Flybe only resumed flights in April, after first filing for bankruptcy in March 2020 due to the pandemic it brought a blow to much of the air transport industry.
Flybe’s assets were later bought in 2021 by Thyme Opco, a company linked to the US investment fund Cyrus Capital. Operations had been relaunched in April 2022 but, despite the strong recovery in traffic, the company had not been able to recover its accounts.
If European airlines have refused to take control of Flybe, they look with envy at its slots, highly strategic assets, notably Air France-KLM (from London) and Scotland’s Loganair.
Source: BFM TV
