All flights from and to the UK operated by Flybe Limited have been cancelled and will not be rescheduled
Customers are advised to visit www.flybe.com or www.caa.co.uk/news for further information
0400hrs Saturday 28 January 2023
David Pike and Mike Pink from Interpath Advisory have been appointed joint administrators to Flybe Limited.
As a result of the insolvency proceedings, Flybe is no longer able to fly or accept bookings.
Consequently, all flights operated by Flybe both from and to the UK are cancelled with immediate effect.
Flybe will not be able to reschedule these flights. Passengers due to fly with Flybe today and in the future are advised not to travel to the airport, unless they have booked alternative arrangements.
Flybe was awarded its Air Operating Certificate and Licence to Operate in 2021, with operations commencing in April 2022. The Company’s ambition was to bring the airline back to full capacity, with a focus on establishing regional connectivity across the UK and partnering with operators with access to Europe and the US.
David Pike, Managing Director at Interpath Advisory and Joint Administrator to the Company, said: “The ‘new’ Flybe was received warmly by the industry and public alike when it launched last year, so this will be devastating news for all those who have supported the Company since then, including employees, passengers, funders and the wider aviation industry.
“I particularly feel for the employees who have put so much energy into making Flybe a success since its relaunch. I also know that there will be customers who rely on Flybe’s services, including the extremely important Belfast connectivity which it provides. In this regard, this is real a setback in terms of the UK’s regional connectivity at a time when infrastructure and levelling up is high on the agenda.”
David Pike continued: “Unfortunately, the Company had to withstand a number of shocks since its relaunch, not least of which was the late delivery of 17 aircraft which it needed for its schedule, and which has severely compromised both the airline’s capacity and its ability to remain competitive. This has driven significant financial losses and an associated cash drain for the business.
“Over the past few months, enormous efforts have been undertaken by the directors and key stakeholders to safeguard the future of the business, including undertaking a process to seek new investors and/or owners. Unfortunately, with the aviation sector still adjusting to the ‘new normal’ following the pandemic, it appears the time was not right for this process to reach a successful conclusion.
“Having ultimately exhausted its available capital base, and with no alternative options available, the directors have taken the difficult decision to place the Company into administration.
“As a matter of priority, will be speaking to all of the Company’s employees later this morning to explain what the administration means for them.
“We do intend to preserve scaled-back elements of the operating platform for a short period such that a rescue transaction remains a possibility. Should any interested party want to explore reviving the airline, I’d encourage them to come forward and make contact with the utmost urgency.”
David Pike added: “We understand that this will cause difficulties and disruption for all those customers with future bookings, particularly those who are due to travel within the next 24-48 hours. We kindly ask that passengers do not travel to airports unless they have made alternative arrangements. Further information for customers can be found on both the Flybe and CAA websites.”
Flybe operates passenger flights via 21 routes to 17 destinations across the UK and EU. It operates a fleet of eight leased Q400 aircraft.
Headquartered in Birmingham, the Company employs approximately 320 people, principally across four sites – Belfast Airport, Birmingham Airport, Exeter Airport and at its Birmingham head office.
Important information for customers:
Passengers due to fly with Flybe in the next 24-48 hours are advised not to travel to the airport, unless they have booked alternative arrangements.
This includes passengers who are currently overseas with a flight scheduled to return to the UK.
Flybe is unfortunately not able to arrange alternative flights for passengers.
Customers who are due to travel in the coming days and weeks may be able to claim a refund and potentially be able to claim any (reasonable) additional costs incurred as a consequence of the cancellation of Flybe’s flights from:
- Your credit or debit card provider;
- Your travel insurer; or
- Customers booking through an intermediary should contact them directly to see if they are able to provide additional advice in making a refund claim.
Further information and support for customers can be found at www.flybe.com or via the Civil Aviation Authority (CAA) website at www.caa.co.uk/news
-Ends-
Notes to Editors:
Flybe employee numbers by location:
|
Belfast Airport (BHD) |
138 |
|
Birmingham Airport (BHX) |
99 |
|
Birmingham HQ (Diamond House) |
69 |
|
Exeter Airport |
7 |
|
Others |
8 |
Contact information:
For press enquiries only, please contact the following:
Katy Broomhead, Head of Communications
katy.broomhead@interpathadvisory.com
Tel: 0161 529 8861 / 07824 537963
Sarah Webber, Communications Manager
sarah.webber@interpathadvisory.com
Tel: 0117 374 9895 / 07468 359547
Kathryn White, Head of Marketing
Kathryn.white@interpathadvisory.com
Tel: 0141 648 4315 / 07500 107484
Or email press@interpathadvisory.com. Please note, the team are unable to handle passenger queries.
About Interpath Advisory:
Interpath is a financial advisory business with a broad range of specialisms that helps organisations facing challenge or opportunity to navigate what’s next. The group advises companies, lenders, equity holders and a wide range of other stakeholders including Government, regulators and pension trustees to navigate the issues and opportunities associated with economic disruption and to overcome financial and operational challenges.