Flybe is to be wound down after administrators were unable to find buyers to rescue the company.
In a major blow for Brits who used the regional airline to fly domestically, talks to save Flybe have fallen through, the administrators Interpath Advisory announced today.
Headquartered in Exeter, Flybe connected passengers flying from and between underserved UK destinations in the south-west, Midlands and Scotland.
It was the only airline running flights on 26% of its routes, meaning its departure is a blow for connectivity between certain regions.
Domestically, it was the only airline to fly between Belfast City and East Midlands/Newcastle, as well as between London Heathrow and Newquay.
Internationally, it was the sole operator flying from Birmingham to Avignon and Brest, Simple Flying reported.
As a result of the failed talks 25 people have been made redundant, effective immediately.
Interpath says it will now wind the company down and start the "sale of specific rights, interests and assets."
David Pike managing director at Interpath and joint administrator of Flybe Limited, said: “Over the past two and a half weeks, we’ve held intensive discussions with a number of operators with a view to rescuing the airline and preserving the value in its assets.
“Unfortunately, there was a challenging set of circumstances at play, including the ‘use-it-or-lose-it’ rules related to slots, complexities with European recognition of a potential Temporary Operating Licence and the high costs associated with preserving the Company’s operating platform, which meant there was a limited window in which a clear path forward could be set.
“Furthermore, it was clear from the outset that there was only a limited number of parties who had the necessary strategic fit and who could navigate the complexities of such a transaction to get a deal over the line.
"We thank those parties for their engagement.
“However, it is with regret that discussions have now been brought to a close without a deal being agreed."
Flybe relaunched less than a year ago after being bought out of administration by Cyrus Capital, having first fallen into insolvency in 2020.
More than 200 employees were made redundant within hours of Interpath's appointment last month.
