Flybe has reaffirmed its commitment to “exceptional air connectivity” as it is saved from the brink of collapse.
After two days of rescue negotiations with shareholders and the government, a deal was reached with the regional airline last night (14 January).
Its shareholders – including a consortium of Virgin Atlantic, Stobart Group and Cyrus Capital Partners – have agreed to inject cash into the business, BBC News reports.
According to Sky News, the deal is likely to involve some deferral of Flybe’s Air Passenger Duty (APD) bill – which carriers usually have to pay at a rate of at least £13 per flight.
Since the announcement, the airline has released a statement which said it is “committed to providing exceptional air connectivity for the UK regions with the full support of its shareholders”.
Mark Anderson, Flybe’s chief executive, said: “Flybe is made up of an incredible team of people, serving millions of loyal customers who rely on the vital regional connectivity that we provide.
“This is a positive outcome for the UK and will allow us to focus on delivering for our customers and planning for the future.”