Shapps stops hedge fund boss from cashing in on Flybe s Heathrow slots
Transport Secretary backs Civil Aviation Authority s decision to revoke operating licence for the failed airline
6 June 2021 • 9:49am
Grant Shapps has intervened to prevent a Mayfair hedge fund manager from cashing in on take off and landing slots at Heathrow owned by Flybe worth tens of millions of pounds.
The Transport Secretary supported a decision by the Civil Aviation Authority to revoke Flybe’s operating licence on Thursday.
Had the decision not been rubber-stamped, Lucien Farrell of Cyrus Capital would have been free to transfer slots at Heathrow airport to a new company hoping to resurrect the Flybe brand after June 3.
By Cirium2021-04-30T16:02:00+01:00
Reborn UK regional carrier Flybe has secured 86 summer-season slots at London Heathrow airport that it plans to use for services to Edinburgh and Aberdeen in Scotland.
Data published by airport slot co-ordinator ACL on 26 April shows the carrier received the slots from British Airways for the period of 28 April to 30 October. It lists the aircraft to be utilised as a De Havilland Canada Dash 8-400.
Source: Shutterstock
The original Flybe operations ceased flights in March 2020
Cirium’s data shows that Flybe purchased a Dash 8-400 with Pratt & Whitney Canada PW150A engines from Austrian Airlines on 22 January.
Regional airline Flybe reborn as assets sold to new company by administrators
Exeter-headquartered airline went belly-up in 2020 but new firm aims to start flights again in 2021
14:04, 14 APR 2021
Updated
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The Flybe name could take to the skies again this Summer after administrators for the failed firm completed the sale of its business and assets to a new business.
Flybe returns but no guarantee it will serve South West
A new company called Flybe Ltd has bought assets of the failed Exeter-headquartered airline
Flybe, which collapsed earlier this month, accounted for 65% of Cornwall Airport Newquay s flights (Image: Wikimedia Commons)
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South West businesses would welcome the return of newly resurrected airline Flybe to the region – but there is no guarantee it will even fly again let alone to the West Country.