Flybe enters administration - customers advised to seek alternative travel arrangements
PUBLISHED: 08:34 05 March 2020 | UPDATED: 11:00 05 March 2020
Devon-based airline Flybe has collapsed into administration prompting customers to be advised to make alternative arrangements.
The carrier narrowly avoided going bust in January but continued to lose money since then.
The airline announced in the early hours of Thursday (March 5) it had ceased trading with immediate effect and that administrators had been appointed.
Crisis talks were held throughout Wednesday (March 4) to try to secure a rescue package, but no deal was agreed.
All Flybe flights and those operated by sister airline Stobart Air have been cancelled, the Civil Aviation Authority (CAA) said in a statement. Flybe was bought by a consortium of Virgin Atlantic, Stobart Group and Cyrus Capital in February 2019, after running into earlier financial problems.
In a statement, chief executive Mark Anderson said the company had made 'every possible attempt" to avoid collapse but had been "unable to overcome significant funding challenges'.
"The UK has lost one of its greatest regional assets," Mr Anderson said.
"Flybe has been a key part of the UK aviation industry for four decades, connecting regional communities, people and businesses across the entire nation.
"I thank all our partners and the communities we have been privileged to serve. Above all I would like to thank the Flybe team for their incredible commitment and dedication."
The company said all Flybe flights were immediately grounded and advised all passengers not to travel to airports unless alternative flight arrangements had been made.
The CAA has advised Flybe customers to make alternative travel arrangements via other airlines or coach operators.
Those who booked their flights via debit or credit card may be protection under Section 75 of the Consumer Act 1974 and should contact their card issuer for more information.
Customers alternatively may be able to make a claim through their credit or debit card provider.
Anyone who booked via a airline ticket agent should speak to them directly.
Richard Moriarty, chief executive at the CAA, said "We urge passengers planning to fly with this airline not to go to the airport as all Flybe flights are cancelled.
"For the latest advice, Flybe customers should visit the CAA website or the CAA's Twitter feed for more information."