Explainer

Timeline of events as airline Flybe collapses for the second time

Flybe was once considered Europe's largest regional airline. Credit: PA Images

The troubled airline Flybe has cancelled all flights and ceased trading for a second time.

It comes just nine months after the company was revived.

Once considered Europe's largest regional carrier and following its latest collapse, we look back at a difficult few years for the company.

  • November 2018: Concerns over Exeter-based airline Flybe grow as it puts itself up for sale - citing falling demand, rising fuel costs and the weak pound for £29 million losses.

  • January 2019: A planned takeover by a consortium including Virgin Atlantic is delayed after Flybe fails to meet make-or-break financial terms. The company cannot deliver a promised £20 million bridging loan as banks won't lend them the money amid fears over its future.

  • April 2019: As Flybe continues to try and find the money, it cancels dozens of flights and stops operating from four airports.

  • October 2019: The rescue deal goes through and Flybe is rebranded to Virgin Connect.

  • Jan 2020: The airline's future is in doubt once again after a government report reveals it is at risk of collapse following further losses. Crisis talks are held and shareholders agree to invest extra money amid government assurances to defer some tax payments, but there are complaints from other airlines that this gives Flybe an unfair advantage.

  • March 2020: Crisis talks are held again but fail. The embattled airline collapses with all flights grounded and administrators brought in. The coronavirus pandemic is seen as the final straw as passenger numbers plummet.

  • April 2021: Flybe is bought by Thyme Opco, a company linked to its former shareholder Cyrus Capital. Hopes for the airline's return rise.

  • April 2022: Flybe returns to the skies just over two years after it ceased trading, with a new base in Birmingham.

  • January 2023: Flybe stops trading for a second time and administrators are called in. Passengers are told not to go to airports as all the company's scheduled flights are cancelled.

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