Virgin-led consortium blames coronavirus impact for Flybe failure
Virgin Atlantic has issued a statement on behalf of its Connect Airways consortium, saying it’s ‘deeply disappointed’ over the collapse of Flybe.
Virgin said: "We are deeply disappointed that Flybe has been unable to secure a viable basis for its continuing operations and has therefore entered administration.
"Virgin Atlantic, along with Stobart Group and Cyrus Capital Partners, formed the Connect Airways consortium which intervened in 2019 to prevent the collapse of Flybe and keep Europe’s largest regional airline flying.
"With customers and staff at the front of our minds, over the past 14 months the consortium has invested more than £135m to keep the airline flying for an extra year, maintaining 2,400 people in employment and ensuring customers could keep travelling.
"This amount includes approximately £25 million of the £30 million committed in January 2020, alongside a Time to Pay arrangement with HM Treasury for Air Passenger Duty to the value of £3.8 million.
"Sadly, despite the efforts of all involved to turn the airline around, not least the people of Flybe, the impact of COVID-19 on Flybe’s trading means that the consortium can no longer commit to continued financial support.
"As a priority we are looking at options to provide support to Flybe staff and to assist affected customers.
"Impacted Virgin Atlantic customers should SMS 07481 339184 for the latest advice, while Flybe customers should refer to the Civil Aviation Authority website at www.caa.co.uk/news for more information."
Unions have expressed dismay that the Government did not step in to rescue Flybe. But transport secrety Grant Shapps told the BBC: "We did everything we could, but a weak company and coronavirus proved too much for them [Flybe]."
He added the Government is working to ‘make sure’ routes will be up and running again ‘just as quickly as possible’.
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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