Flybe – the final departure

The Civil Aviation Authority wrote on 9 March to the joint administrators of Flybe, Ernst & Young LLP, stating that the operating licence for the airline should be revoked (in 14 days). 

This follows a panel (video conferencing) hearing 26 February with Mr Graham Ward CBE (chair) and Ms Katherine Corich, both appointed by the secretary of state for transport as non-executive members of the Board of the Civil Aviation Authority (CAA).

The 22-page document summarised the arguments from both the administrators and the Consumer & Markets Group (CAA watchdog) as to the future of the airline.  

With this judgment the carrier’s slots, mainly at Amsterdam and Heathrow, are now available in the common pool.  

Flybe stopped operations just before the outbreak of the Covid pandemic.  In the meantime most of its profitable routes have been taken over by other airlines. Any pay-out to creditors is likely to be minimal.

On 19 October 2020 the joint administrators signed an asset purchase agreement with a company called “Thyme OpCo” which was dependent on a successful transfer of the slots.  On Wednesday 3 March The London Gazette, the UK Government’s official journal of record, carried a winding-up order for Flybe Group Ltd.

www.flybe.com

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