British regional airline Flybe says enters into administration [CNBC]
DEUTSCHE LUFTHANSA S/ADR (DLAKY)
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Source: CNBC
A Flybe flight departs from Manchester Airport. Pete Byrne - PA Images British regional airline Flybe said early on Thursday it entered into administration, as the already struggling carrier failed to withstand the plunge in travel demand caused by coronavirus. "All flights have been grounded and the UK business has ceased trading with immediate effect," the airline said, adding that accounting firm EY had been called in to handle the administration, a form of creditor protection. The airline's failure puts 2,000 jobs at risk and causes a headache for Prime Minister Boris Johnson and his plan to boost regional transport links. A UK government spokesman said the government was working closely with the airline industry to reduce any disruption to routes operated by Flybe. Flybe is among the first airlines to go out of business since the emergence of coronavirus, which surfaced in China last year and has since claimed around 3,000 lives and sharply reduced travel demand. Some major airli
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