UK regional airline Flybe discontinues operations

摘要

UK regional airline Flybe stopped all flights and entered administration early last month, marking yet another airline bankruptcy in the country—the fourth since 2017—and across Europe. Flybe's collapse comes not unexpected as the company struggled financially for some time despite several restructuring efforts, a 2019 takeover by the Connect Airways consortium—led by Virgin Atlantic, aviation and civil engineering firm Stobart Group, and investment firm Cyrus Capital Partners— and a much-publicized rescue attempt involving the UK government in January. According to Flybe CEO Mark Anderson, the "significant" drop in bookings due to the outbreak of coronavirus compounded the company's funding challenges, forcing its collapse into administration.