Bid to Revive FlyBe?

Bid to Revive FlyBe?

According to a news bulletin on TRAVEL WEEKLY on 19th June 2020, there could be a chance of reviving FlyBe as the biggest regional operator.

According to TRAVEL WEEKLY, surprise plans have emerged to possibly revive FlyBe more than 3 months after it’s collapse prior to the COVID lockdown, and that “A senior advisor to US investor Cyrus Capital has revealed that the UK regional carrier could fly again and re-employ thousands of staff who lost their jobs”.

FlyBe was owned by the Connect Airways consortium – a group of investors which included Virgin Atlantic, Southend airport owner Stobart Group and Cyrus Capital who took over the loss-making carrier business last year, and operated the majority of flights in and out of Cornwall Airport Newquay.

TRAVEL WEEKLY also said –

Cyrus Capital advisor Jonathan Peachey, who played a key role in creating Connect Airways to acquire Flybe, has now raised hopes that the airline could return to service.

“It’s definitely not the case that we have abandoned Flybe,” he told a newspaper in Australia this week.

Peachey, who has been a director of Flybe since February 2019 and has been closely involved with the airline since the Connect takeover, said: “I’m hopeful the administration process will enable the business to re-emerge from administration.”

Cyrus was still a “key stakeholder in the administration process,” The Australian reported.

Peachey, a former board member of Virgin America, said: “We invested as part of a consortium with three shareholders. The shareholders committed over £100 million to the business.

“We invested everything that we had committed to invest and an additional sum in the months prior to the business going into administration as a result of the impact of Covid-19.

“We are in regular contact with the administrator and we are doing everything we can to ensure that the business can emerge in some form from administration.

“There’s still a demand for regional connectivity in the UK.

“Cyrus is doing everything it can, along with the other consortium members, to ensure that a business emerges that can re-hire the many thousands of employees who were dependent on it.”

So fingers crossed, maybe we can see a return to business for the vital services this fantastic operator has provided to Newquay Airport over recent years, and a return to work for those very important staff as well.

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