FlyBe to fly again, the UK to regain its domestic air links?

[PB]

15/04/21

Heart warming news seen on Devonlive today....Let's hope it's 100% true?


Flybe sale completed more than a year after airline collapsed

Assets of the business have been purchased with jobs set to be transferred over as the company - which had a hub at Exeter Airport - is set to jet off again in the summer
The key moments that led to Flybe’s collapse.

The sale of collapsed regional airline Flybe has been completed - meaning the company is set to fly again with the chance of services resuming in the summer.
In March last year, the airline which had a hub based at Exeter Airport and also operated flights from Cornwall Airport Newquay went into administration with all flights grounded as a result.
Disruption to the aviation and travel industry brought on by the coronavirus pandemic were partly blamed for the firm's collapse.

However, in a statement released today, the joint administrators who were brought in following Flybe's demise have confirmed that the assets of the airline have been sold off to a new company affiliated with investment adviser Cyrus Capital.

Along with this, the administrators confirmed that a new company previously known as Thyme Opco Limited will now be renamed "Flybe Limited".

The completion of the agreement - which was first signed on October 19 - includes the transfer of Flybe jobs as well as assets and other parts of the business.
Speaking about the sale, Flybe Limited said that it is hoping to launch planes into the skies again this summer.

A Flybe Limited spokesperson added: "We are extremely excited to announce the conclusion of almost six months of dedicated hard work by the great team at Flybe, the UK Civil Aviation Authority, the European Commission, and the many others who made this announcement possible.

"Today’s news represents a critical first step in our mission to accomplish the first-ever rescue of an insolvent British airline.
"Subject to further success with vaccinations and relaxation of travel restrictions, we plan to launch a new and much improved Flybe sometime this summer on many of our former routes where there remains a critical need for a strong, reliable, and customer-focused airline.

"While our company will initially be smaller than before, we intend to grow, create valuable jobs, and make significant contributions to essential regional connectivity in the UK and EU."
Simon Edel, joint administrator and EY-Parthenon Turnaround and Restructuring Strategy Partner said: "Completion of the sale of Flybe is positive news for local communities previously served by Flybe.
"The launch of a new Flybe will enhance regional connectivity across the UK and create new job opportunities within the airline industry.

"Flybe stands to make an important contribution to local economies as they rebuild after the pandemic and as restrictions ease to allow an increase in air travel."

[PB]

Subsequent reports paint a less optimistic picture suggesting selling LHR slots currently to hand would be the objective, and only one aeroplane is available. Media truth in this day and age is hard to quantify, who to believe is questionable, but for the sake of FlyBe's faithful flock from days gone by claims of a new FlyBe would be a bitter blow if they prove to be unfounded. There is no question, the UK needs a domestic network linking our centres of commerce and the more outlying regions of the British Isles..

PB

[exeglkflyer]

Indeed, the usual aviation doom and gloom from Paul Clifton on BBC South last night.

However, the bit about 1 aircraft does appear to be factual - info available suggests it's an old ex-Austrian Q400, now registered G-CLXC.

Debate rages on PPruNe as to whether the airline will actually take to the air again, or whether it has been re-established simply to realise value from the LHR slots. There is also a bitter taste for some about the financial manouverings that can see an airline that failed with massive debts be re-born (although really in name only in this case) but "business is business" and it looks like similar steps are in progress at what remains of Norwegian.

Many of it's former routes have been (or will be) taken up by other operators - Loganair, Blue Islands, Eastern, Aurigny, Stobart/Aer Lingus Regional - or whatever they are called this week, and Easyjet) and most notably at SOU BA CityFlyer, who will use their the spare weekend capacity to fly many former Flybe routes, albeit at much-reduced capacity to what Flybe used to offer.

For all the bad press they also attracted I flew with Flybe fairly regularly until just over a year ago, and always had a good experience. The crews were great and I enjoyed the sprightly performance of the "Dash". In about 12 sectors during that previous year I only experienced 1 delay, of about an hour.

I'd like to see this happen, mainly to help the struggling regional airports and in the hope that a small number of the impacted staff may find themselves employed again (a small core of HQ-type staff has been retained) if they so desire, but the "new Flybe" will be a small shadow of the former one.

[rocky14]

You make very valid points ex and PB. As has been mentioned from high places lately: greed is the spur. Flybe was good, it served me well; it always had 'problems'. It won't be the same airline but the Insolvency profession is happy - I see links to other pressing issues here! Long live Blackbushe!