Official: Flybe went bankrupt! Is Flybe the first airline to take over Coronavirus?
UPDATE March 05, 2020 - Officially, Flybe went bankrupt, and all the activity of the company was stopped. Flybe cannot operate flights with other partners.
Starting March 5, Flybe joined the Administration, in accordance with UK insolvency law. Because of this, all Flybe's operations ceased with immediate effect. The flights operated by Stobart Air were also affected. All flights operated by the 2 companies were canceled.
Passengers are advised not to go to the airport if they have Flybe flights, only if they have been able to fly on other flights operated by other airlines. Flybe does not provide alternative flights for passengers. Customers are also advised to monitor the Civil Aviation Authority's website for additional information (www.caa.co.uk).
Initial news 04.03.2020 - At this moment, Flybe airline goes through terrible moments, being on the verge of bankruptcy. The flights tonight were canceled and the planes landed at various airports in the UK.
The British government rejected the company's request for a £ 100m loan. At the same time, ticket sales were significantly affected by the epidemic with the new coronavirus. Compared to the same period last year, sales fell by over 40%.
Flybe on the brink of bankruptcy
The financial problems are also accounted for by airport taxes, which reached 13 pounds on domestic flights. Flybe officials have called for a 50% reduction in taxes and, as they say, they would not have needed the £ 100 million loan. Only this measure could be taken until 2021, probably too late.
It is a critical moment for the airline, for the approximately 2000 employees, but also for the British. Flybe has a fleet of approximately 70 aircraft, of which 54 are Dash 8-400. It flies on 120 routes, most of them in the UK. And 88 of them have no competition. Many of the airports served are operational due to Flybe's operations. Several regions in the UK may remain without air links.
Annually, Flybe carries approximately 9 million passengers, which means about 40% of domestic air traffic in the UK. It remains to be seen what the authorities will decide.
We will come back with information!