Flybe moves?

The saga that is Flybe moves on with the CAA setting a date for a hearing to revoke the airline's operation licence for 26 February.

This will be a private Zoom investigation with a public transcript available at a later date.  

With a view to validate the serious nature of the Flybe 2 project the airline has purchased and registered an elderly Bombardier Q400 previously with Austrian Airlines.   

At the present time Flybe Ltd (Flybe1) is under administration by EY and controls the slot portfolio.  If the operating licence were to be cancelled the airport slots would be lost and can be reallocated.  This primarily affects Amsterdam and Manchester airports, although the airline did have four daily rotations at Heathrow.

Flybe Ltd (Flybe1) major creditor is Cyrus Capital, a US hedge fund.  Flybe 2 is controlled by London-based Lucien Farrell, who represented Cyrus Capital in the UK in the Stobart and Virgin Atlantic ownership time.  If the licence is not withdrawn the slots could become a valuable asset if sold to the new airline.

See also BTN 1 February 2021

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