Plans to return Flybe to the skies next year could soon take a major step forward.
US hedge fund Cyrus Capital bought the Flybe brand out of administration in October through shell company Thyme Opco Limited.
The Telegraph reports the firm has now applied to the CAA for a UK operating licence.
Cyrus was part of the Virgin Atlantic-led coalition, which also included Stobart Air, that acquired Flybe in January 2019.
However, the investors pulled the plug shortly before the coronavirus crisis when talks over a government bailout collapsed.
At the time, Flybe was Europe’s largest regional carrier, with a major presence at Exeter airport.