Collapsed airline Flybe plans to return next year

Flybe planning a return to the skies in 2021.

 

As one of the early casualties of the Covid-19 pandemic, Flybe is now planning to return to service next year.

 

The UK-based airline, which folded in March as a collapse in demand for air travel exacerbated already deep financial turbulence, has agreed to the sale of its business and assets for an undisclosed sum.

 

The brand, intellectual property, stock and equipment has been acquired by Thyme Opco, a company affiliated with investment adviser Cyrus Capital.

 

The deal is expected to allow the Flybe business to restart operations as a regional airline in the UK under the Flybe brand in early 2021.

 

“Following today’s announcement, the administrators will work together with Thyme Opco, the Flybe management team and the UK Civil Aviation Authority to prepare for the relaunch of Flybe’s airline operations,” a company statement read.

 

“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.”

 

Flybe carried around 8 million passengers a year between 81 airports across the UK and Europe before its collapse.

 

The announcement has given hope to other resurrections such as Virgin Australia and Avianca.