Pirate FM News 2 minute read

Everything we know about deal to save Flybe

flybe london southend

Published at 8:36am 15th January 2020. (Updated at 8:48am 15th January 2020)

Flybe has avoided collapse after getting a bail-out from the government.

Britain's biggest regional airline has reportedly been given more time to pay its tax bill.

The Exeter-based firm, that operates out of airports like Newquay, has agreed a rescue deal.

It is understood its parent company will begin investing an extra £20 million in the business too.

The Transport Secretary, Grant Shapps, also tweeted after news of a rescue deal broke on Tuesday evening.

He added that the DfT would launch an "urgent review into how we can level up the country by strengthening regional connectivity".

Mr Shapps and Mrs Leadsom met the Transport Secretary earlier on Tuesday to urge him to back a bail-out of the struggling airline.

It carries more than eight million passengers a year and plays an important role in connecting communities the UK, such as Newquay.

However an official announcement issued by the Treasury made no reference to the tax-related assistance to Flybe.

"I welcome Flybe's confirmation that they will continue to operate as normal, safeguarding jobs in UK [sic] and ensuring flights continue to serve communities across the whole of the UK.

"The reviews we are announcing today will help level up our economy.

"They will ensure that regional connections not only continue but flourish in the years to come - so that every nation and region can fulfil its potential".

Chancellor, Sajid Javid

"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".

Flybe Chief Executive, Mark Anderson

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