Flybe looks set to rise from the ashes

european regional airline Flybe, which collapsed in March with the loss of 2,000 jobs, is set to resume flights next year after being rescued by a former shareholder.

The remaining assets of the Exeter-based airline have been bought for an undisclosed sum by Thyme Opco, a company affiliated with investment adviser and former shareholder Cyrus Capital.

The deal, subject to Civil Aviation Authority approvals and regulatory requirements, will see the airline re-launch operations in early 2021 as a 'smaller regional airline' under the Flybe brand.

Before going into administration, Flybe was Europe's largest regional airline, serving more than 80 airports.