Flybe declares insolvency

Ailing UK regional airline Flybe has finally declared insolvency after failing to secure a crucial £100m loan from the British government, with the carrier blaming the impact of COVID19 for tipping it into insolvency. In a statement the defunct carrier said, “all flights operated by Flybe have been cancelled with immediate effect. [The] airline has been unable to overcome significant funding challenges to its business. This has been compounded by the outbreak of coronavirus which in the last few days has resulted in a significant impact on demand.” Stobart Group, which last year invested in Flybe as part of the