The joint administrators who were brought in following the demise of the regional carrier last year have confirmed the deal with a new company affiliated with investment adviser Cyrus Capital.
A possible return for the regional carrier was mooted earlier this week, with administrators at EY selling the remaining assets of the airline to a new owner.
The regional carrier went into administration in Mach this year, with the early stages of the Covid-19 pandemic compounding years of financial losses.
Regional airline Flybe has gone into administration. Falling demand for air travel in the wake of the coronavirus outbreak was partially to blame, the carrier said in a statement.
Ryanair has written to chancellor of the exchequer, Sajid Javid, calling on him to extend the air passenger duty ‘holiday’ given to Flybe to all UK airlines.
The British government has agreed a deal to keep regional airline Flybe in the air. Thought to include deferred payment of air passenger duties, the move has been criticised by environmentalists and rival airline executives.
The British government is to consider reforming air passenger duty on domestic flights as part of a plan to save Flybe from collapse. It is thought the move could save Flybe up to £100 million over three years.
Regional airline Flybe has said it will not comment on speculation it is facing renewed financial difficulties. According to Sky News, Flybe has been struggling to secure fresh finance.
Connect Airways chief executive, Mark Anderson, was today joined by over 200 Flybe leaders for the long-awaited unveiling of the airline’s new name. As it enters a new era, the carrier will now fly under the Virgin brand with the name, Virgin Connect.
Reporting directly to Connect Airways’ chief executive Mark Anderson, Chris Hope will take responsibility for Flybe’s ground and air operations and customer service.
The deal gives the travel trade the benefit of connecting customers to and from the Zagreb-based airline’s European destinations via London Heathrow, Amsterdam Schiphol and Paris Charles de Gaulle airports.