Flybe, Europe’s biggest regional airline, was locked in survival talks on Sunday night less than a year after being bailed out by a Virgin Atlantic-led consortium.
Sky News revealed that British airline based Flybe, which handles over half of Britain’s domestic flights outside London, has been trying to secure additional financing amid mounting losses.
EY, the accountancy firm, has been put on standby to handle an administration of Flybe Group, according to aviation industry sources.
The British government is understood to have been briefed on the crisis at Flybe in the last few days, with more than 2,000 jobs at risk if the company collapses.
If Flybe is unable to stitch together a rescue deal, it would be the second major airline collapse in four months, following Thomas Cook Group’s implosion last September.
Flybe operates about 75 aircraft and serves more than 80 airports across the UK and Europe.
Read more via Sky News
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