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Wed, 14 Apr 2021
Flybe could resume flying its former routes including the Isle of Man.
The collapsed carrier's assets and business have been acquired by new company affiliated with investment adviser Cyrus Capital.
The new business aims to relaunch flights this summer.
Flybe carried around 8 million passengers a year between 81 airports including Ronaldsways prior to being placed in administration following Covid-19 industry disruption.
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."
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