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Looking for fresh money: Flybe tries again to avert a collapse

Despite new shareholders, losses at the British regional airline continue to rise. That’s why Flybe needs an injection again. Otherwise there is a risk of grounding.

In November a year ago, Flybe pulled the rip cord. The weak regional pound, high fuel costs and stronger competition brought the British regional airline into financial difficulties. So she started one to seek financially strong new owners,

You found him. A consortium made up of the American financial firm Cyrus Capital (40 percent), the British conglomerate Stobart Group (30 percent) and aviation Virgin Atlantic (30 percent) took over Flybe, Before that happened, however, a dispute between shareholder groups raged, which further weakened the airline.

Largest regional airline in Europe

The new owners invested around £ 100m, or € 117m, in the airline, which is slated to take the Virgin Connect name in 2020. But apparently the money was not enough. Like the British news channel Sky News reports, Flybe losses have continued to increase in recent months. That is why the regional airline is frantically looking for additional means to avert a collapse.

The government has been informed of the situation, the report said. It is apparently also being examined to what extent the state could participate in a rescue. Flybe is the largest regional airline in Europe and operates over half of the UK’s domestic flights that do not take off or land in London.

Flybe flies to twelve countries

Flybe currently serves more than 180 routes in Europe with an active fleet of 66 aircraft – Dash 8 Q400, ATR72 and Embraer E175 and E195 – and controls 71 airports in twelve countries. The company continues to “focus on providing its customers with excellent service and connectivity to ensure that they can continue to travel as planned. We do not comment on rumors or speculations, »the airline comments on the report.

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