British airline Flybe ceases trading and cancels all flights

UK carrier has been placed into administration

British airline Flybe has cancelled all flights. EPA

British airline Flybe has ceased trading and has cancelled all scheduled flights, it said on Saturday.

The regional airline has been placed into administration, with David Pike and Michael Pink appointed as joint administrators to help manage the affairs, business and property of the company, it said on its website.

“Flybe has now ceased trading and all flights from and to the UK operated by Flybe have been cancelled and will not be rescheduled,” it said.

“If you are due to fly with Flybe today or in the future, please do not travel to the airport unless you have arranged an alternative flight with another airline. Please note that Flybe is unfortunately not able to arrange alternative flights for passengers.”

Mr Pike and Mr Pink were appointed as joint administrators to help manage the airline by the High Court.

They are authorised to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.

The UK Civil Aviation Authority confirmed the development.

“Flybe, which operated scheduled services from Belfast City, Birmingham and Heathrow to airports across the United Kingdom and to Amsterdam and Geneva, has ceased trading,” it said.

The airline industry is recovering from a coronavirus pandemic-induced slowdown as countries reopen their borders and passenger demand improves.

Airlines around the world are on track to return to profit in 2023, the International Air Transport Association said last month.

The global industry is forecast to collectively earn a net income of $4.7 billion in 2023 — the first time it will return to the black since 2019, when it recorded a profit of $26.4 billion. Revenue is projected to reach $779 billion, Iata said.