Flybe may make a return to UK skies subsequent yr following a deal for the belongings of the failed airline.
The regional provider went into administration in Mach this yr, with the early phases of the Covid-19 pandemic compounding years of economic losses.
Forward of a possible return, directors EY bought the model and remaining belongings to Thyme Opco.
The corporate is affiliated to Cyrus Capital, which had put money into the Virgin Atlantic-led rescue try in 2019.
The deal may see the Exeter-based provider restarting as a regional airline within the UK in early 2021.
Simon Edel, a joint administrator, stated it will be nice information for communities across the UK who had relied on Flybe: “The restart of this iconic model, which was as soon as Europe’s largest regional airline, will present a doubtlessly important increase to aviation jobs, regional connectivity and native economies.”
Flybe, which flew about eight million passengers a yr between 81 airports within the UK and Europe, had lengthy struggled financially.
It was promised contemporary funding when a consortium of Virgin, Stobart Air and Cyrus Capital took over the airline in 2019.
Virgin Atlantic had deliberate to rebrand the airline and combine it as a feeder for its long-haul routes from Manchester and London.
This mannequin now seems unlikely, nevertheless, with Virgin Atlantic having scaled again its operations within the wake of the pandemic.
A Thyme Opco spokesperson added: “Whereas we plan to begin off smaller than earlier than, we anticipate to create priceless airline business jobs, restore important regional connectivity within the UK and contribute to the restoration of a significant a part of the nation’s economic system.”