Flybe, the regional airline which collapsed into administration last month, is to be wound down after attempts to find a rescuer for the business were abandoned
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Sky News has learnt that Interpath Advisory, the insolvency practitioner, has terminated talks with potential buyers, which were reported to have included Air France-KLM and the German carrier Lufthansa.Sources close to the process said"use it or lose it" rules relating to take-off and landing slots had been a contributing factor in making a sale of the business too difficult to execute.
Flybe relaunched less than a year ago after being bought out of administration by Cyrus Capital, a little-known investor with limited experience of owning aviation businesses. The company, which was listed on the London Stock Exchange until 2019, when it was sold to a Virgin Atlantic Airways-backed venture, was once among Europe's biggest regional airlines.
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