Flybe administrator denies nationalisation talks with govt

Citing “industry sources”, The Telegraph at the weekend reported accountancy firm Ernst & Young (EY) had entered into discussions with the government over a proposal for Flybe, which operated a number routes under government-subsidised Public Service Obligation (PCO) contracts.

However, EY subsequently said no such talks had taken place over the government “taking Flybe out of insolvency”, but stressed it was open to approaches.

“At this time, we can confirm there are no discussions between the joint administrators and government about taking Flybe Limited out of insolvency,” said EY in a statement. “We continue to be open to approaches from all parties in order to realise returns for creditors.”