By Lizzie Day • 13 January 2020 • 21:03
It has been reported that Flybe could call in administrators as soon as Tuesday if they don’t have government support.
Flybe is one of Europe’s largest regional carrier, and it is believed they have asked Whitehall to help them find a way of delaying its APD payments while it runs short of cash during the winter months as it’s quieter. It is understood that Flybe currently face an APD bill running to tens of millions of pounds.
Sources claim that if Flybe have backing from the government, it would ease their current cash flow crisis. it is understood that Flybe have been having discussions with the owner, Connect Airways, and the government since the weekend.
It is believed that the crisis started for Flybe after two of Connect’s shareholders- Stobart Group, the owner of Southend Airport, and Cyrus Capital Partners, a hedge fund- expressed reservations about a plan to inject £100m into Flybe during the coming years.
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