Britan’s most popular regional independent airline, Flybe, has itself up for sale. The airline blamed falling profits which are most likely due to rising oil prices. The airline is the 3rd cheapest (only behind Ryanair and Easyjet) in terms of average ticket prices in the United Kingdom and carries over 8 million passengers a year.
Flybe’s half-yearly revenue fell by 2.3% to £409.2m while pre-tax profits dropped over 50% to only £7.4m. The airline’s auditors have “significant doubt” over the British carrier’s future with the airline saying “we are open to all considerations”. The airline owes a significant amount of money to creditors with the creditors demanding an extra £9.4m of collateral due to the spending of £32.5m by the airline in 6 months. The airline “is in discussions with a number of strategic operators about a potential sale” and has not put a time limit the potential sale of the company.
The airline flies many short-haul services destinations throughout Europe, Ireland, and the U.K and currently consists of 85 aircraft which are mainly Dash 8 Q400 turboprops. It has been operating since 1979 and is based in Exeter, England with hubs in Manchester and Birmingham, both in England.
The future of the airline is currently unknown however there are serious doubts about its future. What do you think of all this?
Flybe’s Embraer ERJ-195LR jet at East Midlands Airport full photo credit