Monday , October 26 2020

Flybe 'in rescue talks' with UK government – business live – The Guardian,

************************** (******************************** (A Flybe Bombardier Dash 8 Q) ************************************************************************************************** plane at Heathrow Airport. Photograph: Steve Parsons / PA************************************Good morning, and welcome for our rolling coverage of the world economy, the financial markets, the eurozone and business.

The future of Europe’s largest regional airline is in focus this morning, with 2, 06 jobs on the line.UK-based

****************************** (Flybe) ************************************ is urgently seeking government help to find emergency funding to keep the company going, according to Sky News (*****************************************. The Exeter firm is reportedly locked in survival talks with officials at the Department for Business, Energy and Industrial Strategy and the Department for Transport (DfT), seeking extra financing to cover its rising losses. The crisis comes just a year after Flybe was rescued by a consortium led by Virgin Atlantic, and months after travel giant Thomas Cook went under.
Mark Kleinman
(@ MarkKleinmanSky) EXCLUSIVE : Flybe, the regional airline that is due to rebrand as Virgin Connect this year, is tonight seeking an urgent rescue deal; the loss-making company has put administrators on standby, but is in talks with the government to stave off collapse. (January) **********************************************************************************************************************************, (****************************************Sky’s Mark Kleinman says that EY, the accountancy firm, has been put on standby in case Flybe falls into administration (************************************ He says: (**********************************************

The government is understood to have been briefed on the crisis at Flybe in the last few days, with more than 2, 000 jobs at risk if the company collapses.One source close to Flybe said on Sunday night that the Department for Transport and Department for Business, Energy and Industrial Strategy had been working to determine whether the government could provide or facilitate any emergency financing to the company.Flybe operates from airports across the UK, from John O’Groats in Scotland to Southampton on the English south coast, plus Manchester , Edinburgh, Liverpool and London Heathrow.It also flies to and from France, Germany, Ireland , Italy, the Netherlands, Luxembourg and Switzerland.It came close to collapse a year ago, before Virgin Atlantic, Stobart Group and Cyrus Capital Partners swooped in to buy Flybe’s operating assets.****************************************** More to follow … .(***************************************Also coming up todayNew GDP data will show how Britain’s economy fared in November , in the run-up to the general election. Economists predict the economy flatlined during the month, and shrank slightly in the September-November quarter.European stock markets are expected to open flattish, as investors watch events in Iran and await the US-China trade deal signing signing on Wednesday. (****************************************************** (The agenda) (9.) am GMT: UK GDP for November 6285. Expected to show no growth in the month, and a -0.1% contraction in the last quarter.

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