The FlyBe sale was completed before the 2021 summer season
It could be a bright summer for Flybe (BE), now Flybe LTD, after its sale was completed more than a year after bankruptcy. We remind you that Flybe went bankrupt and ceased all business in early March 2020.
According to information from the international press, the assets and all that was left of BE were bought by Thyme Opco Limited, an affiliate of the Cyrus Capital investment consortium. Assets include the FlyBe brand, website, domain and air carrier certificate. It is true that there are still doubts about the validity of the air carrier's certificate, as the BE license was revoked with the bankruptcy.
The new owner has already announced that FlyBe Limited will be a smaller company than BE. No information was provided about the new FlyBe fleet, but we note that the old BE fleet was dispersed after bankruptcy and was NOT included in the sale of Flybe assets. But also from the traded assets, it seems that the new Flybe has some very good slots at London Heathrow International Airport, but also at other important airports in Great Britain.
According to market speculation, based largely on the new owner's statements, Flybe could return to flight this summer. It seeks to resurrect the potential routes that BE covered in the past. The old FlyBe operated about 40% of domestic and regional routes in the UK. It managed to carry over 8 million passengers a year.