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'Absolutely gutted' - passengers stranded after Flybe collapses

Credit: Reuters Studio
Published on March 5, 2020 - Duration: 01:12s

'Absolutely gutted' - passengers stranded after Flybe collapses

British regional airline Flybe collapsed on Thursday after a plunge in travel demand, making the long-struggling carrier one of the first big corporate casualties of the coronavirus outbreak.

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'Absolutely gutted' - passengers stranded after Flybe collapses

The failure of an airline that connects all corners of the United Kingdom with major European destinations not only puts around 2,400 jobs at risk but could also see some airports struggle and regional economies hit.

Airlines around the world have been canceling flights and warning of a hit to profitability after coronavirus first emerged in China, hitting flights across Asia, before it spread to Europe and beyond.

Flybe, the largest independent regional airline in Europe, operated between 81 airports and was owned by Virgin Atlantic, Stobart Group STOB.L and Cyrus Capital.

The owners said they had ploughed more than 135 million pounds ($174 million) into the business in the last 14 months, including around 25 million pounds pledged in January.

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