Market

UK regional airline Flybe ceases trading, cancels all flights By Reuters

[ad_1]

© Reuters. A Flybe plane takes off from Manchester Airport in Manchester, Britain January 20, 2020. REUTERS/Phil Noble/Files

LONDON (Reuters) -British regional airline Flybe on Saturday ceased trading for the second time in three years, cancelling all flights and impacting about 320 jobs.

A statement on Flybe’s website said the airline, which operated scheduled services from Belfast, Birmingham and Heathrow across the UK and to Amsterdam and Geneva, had entered administration, a form of protection from creditors.

“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 said.

It advised people due to fly not to travel to airports.

Headquartered in Birmingham, Flybe has a staff of about 320.

It operated flights on 21 routes to 17 destinations across the UK and European Union using a fleet of eight leased Q400 turboprop aircraft.

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

Pike said Flybe had struggled to withstand a number of shocks since its relaunch last year, not least the late delivery of 17 aircraft from lessors which severely compromised its efforts to build back capacity and remain competitive.

He said scaled-back elements of Flybe’s operating platform would be preserved for a short period while there was a possibility of a rescue transaction. He encouraged any interested party to make contact urgently.

The UK Civil Aviation Authority (CAA) said it would provide advice and information 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,” said Paul Smith, CAA consumer 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 sold to Thyme Opco Ltd, a firm controlled 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 travel.

Low cost airlines Ryanair, Europe’s biggest airline, and Britain’s easyJet (LON:) have reported record bookings for summer holidays, in a sign that consumers are still keen on trips despite a looming recession.

[ad_2]

Source link

Jake

Jacob Keiter is a husband, a writer, a journalist, a musician, and a business owner. His journey to becoming a writer was one that was paved with challenges, but ultimately led him to find his true calling. Jacob's early years were marked by a strong desire for creative expression. He was always drawn to music, and in his youth, he played in several bands, chasing the elusive promise of fame and success. However, despite his best efforts, Jacob struggled to find the recognition he craved. It wasn't until he hit a low point in his life that Jacob discovered his love for writing. He turned to writing as a form of therapy during a particularly difficult time, and found that it not only helped him to cope with his struggles, but also allowed him to express himself in a way that he had never been able to before. Jacob's writing skills quickly caught the attention of others, and he soon found himself working as a journalist for The Sun out of Hummelstown. From there, he went on to contribute to a variety of publications, including the American Bee Journal and Referee Magazine. Jacob's writing style is reflective of traditional journalism, but he also infuses his work with a unique voice that sets him apart from others in his field. Despite his success as a writer, Jacob also owns another business, JJ Auto & Home, which specializes in cleaning. Jacob's commitment to excellence is evident in all of his endeavors, whether it be in his writing or in his business ventures. Today, Jacob is the author of two books and continues to inspire others through his writing. His journey to becoming a writer serves as a reminder that sometimes our darkest moments can lead us to our greatest achievements.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *