Airline Has Been Struggling For Several Months

The U.K. CAA has announced that Flybe, which operated regional services from airports across the United Kingdom, has entered administration. All Flybe-operated flights are now cancelled. Therefore, Flybe passengers are advised to not go to the airport as flights will not be operating.

Flybe customers are urged to make their own alternative travel arrangements via other airlines, rail or coach operators.

For flights operated by Flybe franchise partners (Stobart Air, Eastern Airways, and Blue Islands) passengers should make contact with that airline to confirm your travel arrangements.

The UK Civil Aviation Authority will provide advice and information to consumers, so please check our website and Twitter feed @UK_CAA for more information.

"This is a sad day for UK aviation and we know that Flybe's decision to stop trading will be very distressing for all of its employees and customers," said Richard Moriarty Chief Executive at the UK Civil Aviation Authority.

“We urge passengers planning to fly with this airline not to go to the airport as all Flybe flights are cancelled.  For the latest advice, Flybe customers should visit the CAA website or the CAA's Twitter feed for more information.

“Flybe also operated a number of codeshare partnerships with international airlines.  If you have an international ticket you should make contact with that airline to confirm your travel arrangements.”

CNN Business reports that Flybe said in a statement that its financial challenges had been "compounded by the outbreak of coronavirus which in the last few days has resulted in a significant impact on demand."

Chorus Aviation, which had three ATR 72-600 and five Dash 8-400 aircraft on lease with Flybe, said those aircraft account for less than 5.0% of the net book value of Chorus' regional aircraft leasing segment fleet and less than 5.0% of Chorus' consolidated annualized 2019 EBITDA. Chorus holds security in respect of these aircraft and has a plan to manage their repossession and remarketing.  Furthermore, Chorus' loan agreements provide time and flexibility to remarket the aircraft.

"We have planned for this contingency and are executing against our plan," stated Steven Ridolfi, President, Chorus Aviation Capital. "We are currently in negotiations with prospects for these aircraft. As noted, these aircraft represent only a small portion of the value of our leased aircraft portfolio."

(Source: News releases and as cited)

FMI: www.caa.co.uk/News/Advice-to-UK-consumers-following-Flybe-entering-administration
www.chorusaviation.com
CNN