Westcountry stands ready to help rebuild rescued airline Flybe
IF all goes to plan, the timing could not be better for a return to the skies of Flybe flights.
The Exeter-based airline, which collapsed last year and has subsequently been rescued, is aiming to start flying this summer.
And the resumption of business may coincide neatly with a return to greater freedom of movement and international travel as lockdown restrictions are eased.
Many would not have bet on the airline ever making it back out of the doldrums in which it found itself, and indeed those who brokered the deal described it as the “first-ever rescue of an insolvent British airline”.
It was a tearful day for staff last year when turbulent finances saw the airline call in the administrators. The 40-year-old airline, a mainstay of Devon business and a vital cog in the UK’s transport network, ground to a sudden halt in early March, with jobs lost and a gaping hole left in UK air travel that has only been partially filled since.
At the time, the Covid crisis was only just beginning to sweep the UK, hitting flights, becoming what was described as the final nail in the coffin for the company, after hopes of a bail-out from the Government were dashed. Chief executive Mark Anderson told staff back then that the virus had “put additional pressure on an already difficult situation”.
As the UK’s largest regional carrier, it had enjoyed handsome profitability, before a rocky few final years. The Brexit referendum had left a weakened pound and general business uncertainty, while volatile fluctuations in the price of oil also had a detrimental effect.
Once the airline was grounded, it seemed wishful thinking to many that it might rise again from the ashes. And yet the sale of the business and assets by administrators and lengthy negotiations behind the scenes have secured the deal that sees a company bearing the Flybe name aiming to start flights again this year.
“While our company will initially be smaller than before, we intend to grow, create valuable jobs, and make significant contributions to essential regional connectivity in the UK and EU,” said a Flybe spokesperson.
It will take time for Flybe to build up its strength, but the prospect could not be better news for the Westcountry, where the company has been run over decades.
Many will have lost their jobs at the same time that the pandemic forced the suspension or closure of so many businesses and when employment prospects were bleak.
A pool of talented former Flybe staff exists in this region which the revived airline can turn to, as well as renewing business connections with local services and suppliers.
Simon Edel, joint administrator and restructuring strategy partner, said the deal will make an “important contribution to local economies”, and described the completion of the sale of Flybe as “positive news for local communities previously served by Flybe”.
This presents a real opportunity, and bosses of the new Flybe can be sure they have the support of people across the Westcountry as they begin to rebuild ahead of summer.