• Tue. Mar 28th, 2023

Who owns Flybe? – The Sun | The Sun

Jan 28, 2023

AIRLINE operator Flybe has gone into administration, causing turmoil for passengers with flights booked with the company.

But who owns Flybe and what can I do if I've been affected?

The popular operator has caused panic with the news for passengers

Who owns Flybe?

The operator had seemingly been saved in 2019 when it was bought by a consortium headed by Virgin Atlantic, Stobart Group and Cyrus Capital when is posted poor financial results.

It was believed the takeover had saved the company along with many jobs with the company looking forward to its future under its new owners.

The consortium, known as Connect Airways, paid just £2.2million for Flybe's assets but pledged to pump tens of millions of pounds into the loss-making airline to turn it around.

About 2,000 people were employed by the airline at the time of its collapse.

Richard Moriarty chief executive at the CAA, said: “This is a sad day for UK aviation and we know that Flybe's decision to stop trading will be very distressing for all of its employees and customers.

“We urge passengers planning to fly with this airline not to go to the airport as all Flybe flights are cancelled.

“For the latest advice, Flybe customers should visit the CAA website or the CAA's Twitter feed for more information."

Despite airports still showing their flights as scheduled and on time, the operator has asked customers to check its website as opposed to airports.

Why has Flybe gone bust?

Having seemingly been saved by the consortium, the operator had resumed its flight schedules in April 2022, hoping the partnership would lead to a prosperous future.

Flybe had been hit by a series of problems, including falling demand, rising fuel costs and the weakening of the pound.

A drop in demand for flights caused by coronavirus fears then "made a difficult situation worse" for the budget airline, a source reportedly told PA.

Discussions had been held with the Department for Business, Energy and Industrial Strategy (BEIS) and the Department for Transport (DfT) to see whether they could provide or facilitate emergency financing.

A "rescue package" would have involved a cut to air passenger duty on domestic flights in a bid to save the airline.

The collapse of Flybe underlines the industry is still trying to recover from the knock-on effect of the pandemic that decimated airlines.

What happens now if I have a Flybe flight booked or I'm already on holiday?

Passengers who may be currently abroad, have been told to firstly check whether their booking is ATOL protected.

The ATOL scheme, which is co-run by the government and the Civil Aviation Authority (CAA), was a scheme set up to ensure passengers are not left stranded and to protect them against financial loss.

For a lot of passengers, this means had they booked their flight and hotels separately, there is a good chance that they will not be protected by the scheme.

However, if you used your credit card to book your flights there is a good chance, providing the purchase was over £100, that you will be covered for a refund via Section 75 of the Consumer Rights Act.

Customers who purchased via debit cards are urged to contact their bank.



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When was Flybe founded and where did it fly to?

The airline began as Jersey European Airways in 1979, operating regional flights from Jersey.

Its route network grew and it was re-branded British European in 2000, before becoming Flybe in 2002.

The operator flew mainly short haul flights focussed on the United Kingdom, Republic of Ireland and continental Europe.

Having relaunched in 2022 and adding a number of new routes it was seen as a "new dawn" for the carrier but sadly today marks the end for Flybe.

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