Flybe was among the earliest to collapse due to the pandemic last year ,but aims to comeback this summer being it's smaller version.
The Regional airline closed on 5th of march 2020, when 2400 of its staffs lost their jobs and thousands of passengers saw their flights cancelled.
Re-entry will be a challenge for Flybe , as most of the routes covered before pandemic has been occupied by other carriers.
A spokesperson of the New Flybe said, “Today’s news represents a critical first step in our mission to accomplish the first-ever rescue of an insolvent British airline.”
A new company affiliated with Cyrus Capital has acquired Flybe’s business, assets and liabilities. It still intends to operate under the former airline's name, while company will be known as Flybe Limited and is expected to fly many of the previously operated routes.
The airline spokesperson said: “Subject to further success with vaccinations and relaxation of travel restrictions, we plan to launch a new and much improved Flybe sometime this summer on many of our former routes where there remains a critical need for a strong, reliable, and customer-focused airline.
“While our company will initially be smaller than before, we intend to grow, create valuable jobs, and make significant contributions to essential regional connectivity in the UK and EU.”
Flybe had a sizable market presence in UK's regional connectivity operating as good as 46 routes before pandemic.
The routes have been captured by other players like Loganair, that flies 17 of Flybe's routes , while Aer Lingus Regional , British Airways, Eastern Airways and easyjet are covering the rest.
Loganair’s chief executive Jonathan Hinkles said: “The fact that 42 of Flybe’s 46 lost domestic routes have now been restored shows the resilience and the importance of supporting the UK’s domestic airlines.”
It will be interesting to see, how a New Flybe flies with a battered travel demand and fierce competiotion during the pandemic !
