Flybe, a UK regional airline that had been operating since 1979, entered administration on March 5, 2020, and ceased all flights immediately. The airline, which was the largest regional carrier in Europe by passenger numbers, had been struggling financially for years.
The collapse was attributed to a combination of factors, including the impact of the COVID-19 pandemic on travel demand, as well as long-standing financial difficulties. Flybe had been rescued from a previous financial crisis in 2019 by a consortium including Virgin Atlantic, Stobart Group, and Cyrus Capital.
Approximately 2,000 employees lost their jobs as a result of the administration. The UK government had been in talks to provide a loan to the airline, but these discussions ultimately failed to secure its survival.
