British airline Flybe on Thursday entered administration and grounded all flights, the company reported.”All flights have been grounded and the UK business has ceased trading with immediate effect.
“We will not arrange alternative flights for passengers and advised them not to travel to the airport,” the company said.
The company, based in Exeter in South-West England, has been struggling for months and almost folded up in January.
An airline source noted that a drop in customers amid the new coronavirus outbreak worsened the situation.
Meanwhile, crisis talks were held on Wednesday but could not arrive at a reasonable solution.
However, four senior employees of professional services firm Ernst Young had been appointed as joint administrators.
Flybe is the majority carrier at several regional airports across Britain, including Anglesey in Wales, Aberdeen in Scotland, Manchester and Southampton in England, Belfast in Northern Ireland and European destinations.
According to BBC, in 2019, the carrier was bought by a consortium of companies, including Virgin Atlantic that said it would invest 30 million pounds (or 39 million dollars) into the business to keep it afloat.
Flybe had also been in negotiations with the British Government about receiving a 100-million-pound bailout loan, but the terms were never agreed.
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