According to The Financial Times, Flybe confirmed it had entered administration after holding last-ditch talks with the government on Wednesday afternoon, a move that puts more than 2,000 jobs at risk and raises uncertainty over scores of regional air routes within the UK.  “Europe’s largest independent regional airline has been unable to overcome significant funding challenges to its business,” Flybe said. “This has been compounded by the outbreak of coronavirus which in the last few days has resulted in a significant impact on demand.”

The Exeter-based budget carrier was founded in 1979 and at one point was Europe’s largest independent regional airline, carrying eight million passengers a year and operating more than 200 routes. The airline had been struggling for a while. The UK government announced in January that it was talking to the company about its finances and exploring options for a rescue, adding that Flybe’s management and shareholders were setting the airline “on a recovery path.” The International Air Transport Authority said last month that outbreak will likely cost airlines tens of billions of dollars and reduce global traffic by 4.7%, marking the first overall decline in demand since the global financial crisis, according to CNN Business.

Employees

In the event that you were an employee of the Company and you require any further information or assistance in relation to the Administration, please contact the Administrators on 0161 333 2596 or by email at [email protected].