Home Business NewsBusinessAviation News Flybe set to take off again after rescue deal

Flybe set to take off again after rescue deal

by LLB staff reporter
19th Oct 20 1:24 pm

Flybe which collapsed earlier this year and was once Europe’s largest regional airline is set to take to the skies again after a rescue deal.

Flybe’s remaining assets has been bought by Thyme Opco and are planning to jump start the airline from 2021.

Flybe will be smaller than it was before, and the new owners are linked to Cyrus Capital who were part of Virgin Atlantic led rescue attempt.

“We are extremely excited about the opportunity to relaunch Flybe. The airline is not only a well-known UK brand, it was also the largest regional air carrier in the EU, so while we plan to start off smaller than before, we expect to create valuable airline industry jobs, restore essential regional connectivity in the UK and contribute to the recovery of a vital part of the country’s economy” said a spokesperson for Thyme Opco.

Simon Edel, an administrator at EY said, “Today’s announcement, and the upcoming completion of this sale, will be great news to communities around the country that were previously served by Flybe.

“The restart of this iconic brand, which was once Europe’s largest regional airline, will provide a potentially significant boost to aviation jobs, regional connectivity, and local economies.”

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