Flybe reportedly on the verge of collapse
Flybe insists flights continue as normal amid survival funding talks.
UK regional airline Flybe is reportedly in crunch talks with the British government for emergency financing.
The news comes less than a year after its rescue by a Virgin Atlantic-led consortium of buyers.
The airline, which handles over half of Britain’s domestic flights outside London, was attempting to secure additional financing amid rising losses.
The plan after last year’s rescue was for Flybe to rebrand as Virgin Connect sometime in 2020, helping Virgin Atlantic gain a share in the regional market.
Despite Flybe refusing to be drawn on the matter, it has not denied that it is in rescue talks.
“Flybe continues to provide great service and connectivity for our customers while ensuring they can continue to travel as planned. We don’t comment on rumor or speculation,” the airline said in a statement.
Should Flybe collapse, it would be the second high-profile failure in the British aviation industry in less than six months after Thomas Cook went into liquidation last September.
Around 2,000 jobs are said to be at risk.