UK Regional flybmi Goes Into Administration
UK regional airline flybmi has gone into administration and cancelled all flights with immediate effect.
The airline’s owner, Airline Investments, was not willing to continue supporting flybmi and called in administrators BDO, blaming Brexit as one of the causes.
“We sincerely regret that this course of action has become the only option open to us but the challenges, particularly those created by Brexit, have proven to be insurmountable,” the company said.
“Current trading and future prospects have also been seriously affected by the uncertainty created by the Brexit process, which has led to our inability to secure valuable flying contracts in Europe and lack of confidence around bmi's ability to continue flying between destinations in Europe,” it added.
Flybmi operated 17 regional jet aircraft on routes to 25 European cities, carrying 522,000 passengers on 29,000 flights last year.
BDO said the majority of the airline’s 376 employees based in the UK, Germany, Sweden and Belgium have been made redundant, but some have been retained to assist the administrators.
British Midland Regional is owned by investment group Airline Investments, which also owns Scottish regional carrier Loganair. Loganair is unaffected by the flybmi administration and is reported to be looking at taking over some of the defunct airline’s routes.