Regional airline Flybe at risk of collapse amid crisis talks

PUBLISHED: 10:36 13 January 2020 | UPDATED: 16:07 13 January 2020

Flybe is reportedly on the brink of collapse. PHOTO BY SIMON FINLAY

Flybe is reportedly on the brink of collapse. PHOTO BY SIMON FINLAY

Regional airline Flybe is reportedly on the brink of collapse having held emergency funding talks with the government over the weekend.

The airline employs around 2,000 people.

Responding to an initial report by Sky News, a Flybe spokeswoman said: "Flybe continues to focus on providing great service and connectivity for our customers, to ensure that they can continue to travel as planned.

"We don't comment on rumour or speculation."

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The news comes after a bumpy few years for Flybe which pulled out of Norwich Airport late last year as part of an ongoing turnaround strategy.

The carrier had previously flown out of Norwich to Alicante and Malaga but ceased flights last October.

Flybe had flown out of Norwich for almost two decades.

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The turnaround strategy was prompted by a takeover of Flybe by Connected Airways - a consortium consisting of Virgin Atlantic, Stobart Group and Cyrus Capital.

The consortium paid just £2.2 million in February 2019 for Flybe's assets but pledged to pump tens of millions of pounds into the loss-making airline in a bid to turn it around.

It is believed the consortium is discussing a further cash injection but have yet to agree on terms.

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