Published: 13th January 2020
The regional airline company Flybe is in talks with potential backers who its bosses hope might be able to help them avoid having to put the business in administration.
Reports from Sky News suggest that EY is preparing to potentially handle the airline’s administration processes, while enquiries are being made around whether the government might be able to provide emergency funding to the company.
Flybe is the among the largest regional airline businesses in Europe and handles most domestic flights in the UK outside of London.
However, the business has been reporting serious financial difficulties in recent months and years, having effectively been rescued from potential collapse by a consortium led by Virgin Atlantic in February 2019.
That consortium is made up of Virgin Atlantic, Stobart Air and Cyrus Capital, who collectively paid £2.2 million to acquire Flybe’s assets and operations last year.
Representatives of the pilots’ union have expressed their frustration at being kept in the dark about what might happen to Flybe, which is a very significant employer within the UK’s aviation sector.