Virgin Atlantic statement on Flybe entering administration

posted on 5th March 2020 by Eddie Saunders
Virgin Atlantic statement on Flybe entering administration

Regional airline Flybe has announced that it has ceased to operate after failing to raise additional funding.

A Virgin Atlantic spokesperson, said: We are deeply disappointed that Flybe has been unable to secure a viable basis for its continuing operations and has therefore entered administration.

Virgin Atlantic, along with Stobart Group and Cyrus Capital Partners, formed the Connect Airways consortium which intervened in 2019 to prevent the collapse of Flybe and keep Europe’s largest regional airline flying.With customers and staff at the front of our minds, over the past 14 months the consortium has invested more than £135m to keep the airline flying for an extra year, maintaining 2,400 people in employment and ensuring customers could keep travelling. This amount includes approximately £25 million of the £30 million committed in January 2020, alongside a Time to Pay arrangement with HM Treasury for Air Passenger Duty to the value of £3.8 million.

Sadly, despite the efforts of all involved to turn the airline around, not least the people of Flybe, the impact of COVID-19 on Flybe’s trading means that the consortium can no longer commit to continued financial support.

As a priority we are looking at options to provide support to Flybe staff and to assist affected customers. Impacted Virgin Atlantic customers should SMS 07481 339184 for the latest advice, while Flybe customers should refer to the Civil Aviation Authority website at www.caa.co.uk/news for more information.”