Flybe administrators unable to find a buyer and discussions have been closed ‘without a deal being agreed’

Flybe administrators have been unable to find a buyer for the airline and all discussions have now been “Closed without a deal being agreed.”

Interpath has now said that they will start “winding down the business” and will identify “options” for the sale of “rights, interests and assets.”

David Pike, managing director at Interpath and joint administrator of Flybe, said, “Over the past two-and-a-half weeks, we’ve held intensive discussions with a number of operators with a view to rescuing the airline and preserving the value in its assets.

“Unfortunately, there was a challenging set of circumstances at play, including the use-it-or-lose-it rules related to slots, complexities with European recognition of a potential Temporary Operating Licence and the high costs associated with preserving the company’s operating platform, which meant there was a limited window in which a clear path forward could be set.

“Furthermore, it was clear from the outset that there was only a limited number of parties who had the necessary strategic fit and who could navigate the complexities of such a transaction to get a deal over the line. We thank those parties for their engagement.

“However, it is with regret that discussions have now been brought to a close without a deal being agreed.”