Flybe, Europe’s largest regional airline is probably going to join the enormous pile of bankrupt airlines. The British airline, based in Birmingham, Manchester and Exeter, is seeking urgent financial help. But, Flybe’s owner, Connect Airways ( a consortium created last year by Virgin Atlantic, Cyprus Capital Partners and Stobart Aviation to stop Flybe from going bankrupt), has said that they are going to spend millions of pounds to save the airline. Ministers in the parliament of the United Kingdom decided on Tuesday that they would make a rescue deal with shareholders ( the people who invest in a certain stock by buying one or several shares of that stock ), to keep the airline flying. The government of the United Kingdom is still negotiating to loan some money to the grief stricken airline. Connect Airways will rename Flybe and Stobart Air ( an Irish subsidiary of Connect Airways ) Virgin Connect, though the two airlines will retain their AOCs. Although the government will surely loan some money to the airline, there is still a high probability of it going bankrupt. If it were to do so, it would not only be a massive loss for the United Kingdom, but also for the aviation industry. 16th of January 2020.
Aeronews24 