UK regional airline Flybe ceases trading, cancels all flights

UK regional airline Flybe ceases trading, cancels all flights
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  • It collapses for the second time in three years
  • 276 employees were laid off by the managers
  • About 75,000 customers had future reservations
  • He suffered from the delay in the delivery of the aircraft
  • Competitors are seeing increased demand

LONDON, Jan 28 (Reuters) – British regional airline Flybe halted trading for the second time in three years on Saturday, canceling all flights and cutting 276 jobs.

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

“Flybe has now ceased trading and all flights to and from the UK operated by Flybe have been canceled and will not be rescheduled,” it said.

He advised people not to go to the airports due to the flight.

A spokesman for administrators Interpath Advisory said around 75,000 Flybe customers had future bookings which would now not be honoured.

Headquartered in Birmingham, Flybe flew 21 routes to 17 destinations across the UK and Europe using eight leased Q400 turboprop aircraft.

David Pike and Mike Pink of Interpath have been appointed joint administrators of Flybe.

Pike said Flybe had struggled to weather a series of shocks since its relaunch last year, not least the late delivery of 17 aircraft from lessors, severely undermining efforts to increase capacity and remain competitive.

He said scaled-down elements of Flybe’s operating platform would be preserved for a short period of time in the event of a rescue operation. I have encouraged any interested parties to get in touch immediately.

An Interpath spokesman said 45 members of Flybe’s 321-strong workforce have been retained for now.

The UK Civil Aviation Authority (CAA) said it would provide advice and information to affected passengers.

Paul Smith, CAA consumer director, said: “It is always sad to see an airline go into administration and we know that Flybe’s decision to cease trading will be sad for all its employees and customers.”

Battered by the UK’s COVID-19 pandemic lockdown, Flybe first went into administration in March 2020, affecting 2,400 jobs.

In October 2020, it was sold to Thyme Opco Ltd, a firm controlled by Cyrus Capital, and resumed flights in April 2022, albeit on a smaller scale.

Flybe’s demise contrasts with a post-pandemic surge in demand for air travel.

Cheap airlines Ryanair (RYA.I)Europe’s largest airline and Britain’s easyJet (EZJ.L) They reported record bookings for summer vacations, a sign that consumers are still eager to travel despite the expected recession.

Opposition Labor Party transport spokeswoman Louise Haigh said Flybe’s collapse was “devastating news” for workers and customers.

“The protections for passengers are simply not strong enough – and ministers have sat on their hands for years and failed to introduce long-promised airline insolvency laws,” he said.

The Unite trade union said the government had failed to learn from the first Flybe failure.

Reporting by Mrinmay Dey and Akriti Sharma in Bengaluru and James Davey in London Editing by William Mallard and Jason Neely

Our standards: Thomson Reuters Trust Principles.

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