FlyBe Once Again Struggles with Financial Problems

January 14, 2020

 

Source aeronauticsonline.com

 

Flybe (BE / BEE), Britain’s largest regional airline is again struggling with financial problems. The airline has been trying to secure additional financing, Sky News reports.

The British government has been informed about the possible collapse of the airline. Due to the possible collapse, the government is considering giving financial support to the airline and/or the employees of the airline. If the airline collapses, more than 2,000 jobs could be lost.

The news comes almost one year after the airline was acquired by the Connect Airways group, a corporation owned by Virgin Atlantic Airways, the Stobart Group, and Cyrus Capital Partners. The corporation bought FlyBe for the price of £2.8 million while it also invested around £100 million into the airline.

Flybe is currently the largest regional airline in the United Kingdom and operates more than 50% of all Britain’s domestic flights outside of London. Flybe operates a mixed fleet consisting of ATR (6), De Havilland Canada (54) and Embraer (11) aircraft. According to the current plans of the Connect Airways Group, FlyBe will be rebranded as Virgin Connect.

If Flybe collapses, the United Kingdom will be dealing with the second airline collapse in a half of a year. In September of last year, Thomas Cook Airlines already ceased its operations due to financial troubles. The collapse resulted in ‘Operation Matterhorn’, Britain’s largest rescue operation since World War II, to bring 127,000 British tourists back to the United Kingdom. 

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