Flybe Sale Completed Prior to Summer Season airwaysmag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from airwaysmag.com Daily Mail and Mail on Sunday newspapers.
Failed Flybe set for new takeoff
Aviation regulator grants company controlled by Lucien Farrell s hedge fund an operating licence but landing slots must first be transferred
14 April 2021 • 5:00pm
Flybe is close to taking off once again after regulators granted the airline permission to return to the skies.
Mr Farrell’s Mayfair fund bought Flybe’s brand and other assets from administrators EY last October amid plans to “restore essential regional connectivity in the UK”.
Cyrus was a shareholder in Flybe alongside Sir Richard Branson’s Virgin Atlantic when what had been Europe’s biggest regional airline collapsed in March 2020.
Jon Peachey, who previously led Sir Richard’s US operations, is a director of the new company that recently changed its name from Thyme OpCo to Flybe Limited.
Flybe sale completed more than a year after airline collapsed devonlive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from devonlive.com Daily Mail and Mail on Sunday newspapers.
Flybe set for summer return as buyout deal completed
Having gone bust in March last year, Flybe now has a summer relaunch in its sights. (Getty Images)
Flybe’s journey back to the skies moved a step closer today after the sale of the collapsed airline to a firm backed by private equity firm Cyrus Capital was completed.
The deal, which was first announced in October last year, will see new owner Thyme Opco change its name to Flybe Limited.
A spokesperson for the carrier said that it would relaunch services sometime during the summer, subject to coronavirus travel restrictions.
Phoenix from the ashes: the rise, fall, and rebirth of Flybe : CityAM cityam.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cityam.com Daily Mail and Mail on Sunday newspapers.