COULD you become the new owner of a familiar regional airline?
Flybe – which has fallen into administration twice in recent years – is back on the market.
Founded as Jersey European Airways in 1979, the company was later renamed British European in 2000 and, two years later, Flybe, at which point its headquarters moved from the Island to Exeter Airport.
A statement by Business Sale Report called the airline’s predicament ‘a sad end for a company that had such a strong presence in the UK aviation industry’.
Property advisory firm Hilco Streambank has been assigned the task of selling the Flybe brand, its trademark, domain name, website content and social media accounts.
And the administrator for Flybe, Interpath Advisory, has confirmed that it will begin the winding-down process for the former airline.
David Pike, managing director at Interpath, outlined the challenges of finding a new buyer.
He said: ‘Unfortunately, there was a challenging set of circumstances at play, including the use-it-or-lose-it rules related to slots, complexities with European recognition of a potential temporary operating licence and the high costs associated with preserving the company’s operating platform, which meant there was a limited window in which a clear path forward could be set.’
Expressions of interest for purchasing Flybe must be made by Tuesday 11 April.