Interpath, administrators for Flybe, have confirmed that acquisition discussions for the airline have ended.
The airline recently went into bankruptcy for the second time on January 28, after which several other carriers reportedly expressed interest in purchasing it due to its lucrative slots at London Heathrow.
According to the Daily Echo, the administrators have since been unsuccessful in finding a buyer for the airline. Interpath has said it will now begin identifying options for the sale of Flybe’s rights, interests and assets.
“Over the past two and a half weeks, we’ve held intensive discussions with a number of operators with a view to rescuing the airline and preserving the value in its assets,” said MD of Interpath and joint administrator of Flybe, David Pike. “However, it is with regret that discussions have now been brought to a close without a deal being agreed.”
Pike indicated that a number of challenging circumstances had led to this decision, including the use-it-or-lose-it rules related to slots; complexities with European recognition of a potential Temporary Operating Licence, and the high costs associated with preserving the company’s operating platform.
Prior to the first time it went into administration in March 2020, Flybe flew more domestic routes between airports outside London than any other airline.
