By George Stephens • 13 January 2020 • 5:07
The Euro Weekly understands that there is a financial company crisis with Flybe which is the UK’s largest regional airline as well as European operator to Spain ands other destinations.
Currently the UK government are looking at a rescue bid or a bail out to save the airline going bust.
The company was locked into survival talks late into the night of yesterday and are continuing into the early hours of today.
This comes after the company received investment and a previous rescue package from Virgin Atlantic around 12 months ago, but still now has an uncertain financial future.
Flybe still has mounting losses despite controlling half of the UK’s regional flight routes and many European destinations including flights to Spain’s Malaga and Costa Blanca airports.
According to aviation sources the accountancy company EY has been placed on standby for entering administration of the Flybe group.
The department of transport have been briefed on the situation with the government in Britain looking at a possible bail out deal as at least 2,000 jobs at risk, the DOT are working with Department for Business, Energy and Industrial Strategy to see if a finance rescue package can be put together.
This though could potentially cause its own outcry as the government decided not bail out Thomas Cook in 2019.
If Flybe is unable to put together a rescue deal shortly it will be the second major airline collapse in four months after Thomas Cook crashed September 2019.
The low cost airline based in Norwich has 75 aircraft in its fleet and operates from over 80 European airports including Spain.
The next few hours are now vital to stave off administration.
Flybe operates about 75 aircraft and serves more than 80 airports across the UK and Europe.
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