Flybe Limited (12875147): administration
- Status
- In administration
- Administration began
- 2023-01-28
- Administrators
- Luke Wiseman, Gareth Slater
- Administrators' firm
- Interpath Advisory
- Formerly
- Thyme Opco Limited
- Incorporated
- 2020-09-13
- Location
- London
- Industry
- 51101 Scheduled passenger air transport
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company's ambition was to bring the airline back to full capacity, with a focus on establishing regional connectivity across the UK and partnering with operators with access to Europe and the US.
The Company had entered into agreement with aircraft lessors for 17 aircraft. At the date which the Company entered into administration, nine aircraft had been delivered to the Company and were in use (eight aircraft were operating and the other remaining aircraft was undergoing preparation work).
Given the delay in receiving leased aircraft, the Company was unable to provide the seat capacity or service the number of routes it had anticipated which caused significant reputational and financial impact on the business.
Administrators' statement of proposals (2023-03-28) · Companies House register