Flybe gearing up for a summer re-launch

The sale of FlyBe’s assets has been completed and the new owners of the brand are planning to return the airline to the skies this summer.

The new company owners of FlyBe are associated with investment adviser Cyrus Capital. Primarily flying from its Exeter Airport hub, FlyBe also operated from Cornwall Airport Newquay. The airline went into administration in March 2020 resulting in all flights being cancelled.

Thyme Opco which acquired the assets of the failed airline will be renamed Flybe Limited. The agreement signed in October 2021 will involve the transition of Flybe employees, properties, and other aspects of the company.

Flybe Limited said that it hopes to resume flight operations this summer as a result of the deal.

“We are incredibly excited to announce the culmination of nearly six months of dedicated hard work by the great team at Flybe, the UK Civil Aviation Authority, the European Commission, and the many others who made this announcement possible,” a Flybe spokesperson said.

“This news represents a critical first step in our mission to accomplish the first-ever rescue of an insolvent British airline.

“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.”