Flybe cancels all flights after filing for bankruptcy the second time

British airline Flybe cancelled all flights on 28 January after it filed for bankruptcy protection the second time. Around 2,500 passengers were scheduled to fly with the airline on 28 January and almost 75,000 in the coming days. This data was confirmed by the UK Civil Aviation Authority to New York Times. Flybe used to dominate the domestic flight market of the United Kingdom at one point, and had only restarted in April last year. Flybe made the announcement on its social media handles and wrote, “We are sad to announce that Flybe has been placed into administration. Flybe has now ceased trading. All Flybe flights from & to the UK are cancelled & will not be rescheduled.”

Have a look at the tweet by the airline here:

Paul Smith, Director of Civil Aviation Authority, said in a statement that they knew that Flybe’s decision to stop operating would cause distress in all of its customers and employees. Britain’s High Court has appointed Mike Pink and David Pike from Interpath as administrators to Flybe.

The airline was hugely impacted when a decline in travel was witnessed during the pandemic. In March 2020, the company filed for bankruptcy, causing a loss of 2,400 jobs. The firm was rescued by Thyme Opco, which is linked to US hedge fund Cyrus Capital.

As per David Pike, the scaled-back elements of Flybe’s operating platform would be preserved for a short period, while there was a chance of rescue transaction, as per Reuters. He urged any interested party to make contact with the company. An Interpath spokesperson confirmed that 45 out of Flybe’s 321 employees had been retained for the time being.

According to the New York Times, Britain has comparably less use of commercial domestic flights by international standards. The British government is going to launch tax cuts for domestic flight carriers in April to improve national connectivity. This move is a part of the “leveling up” agenda of the Rishi Sunak-led government, which aims at eliminating disparities between the country’s prosperous South and its economically disadvantaged northern region.

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