05 Mar 2020 12:40PMLONDON: One of Britain's biggest airlines, Flybe, collapsed Thursday with all its flights grounded, the company said, as the coronavirus epidemic takes a heavy toll on airlines around the world.
Flybe, which employs 2,000 people, had failed to turn around its fortunes since being purchased by the Connect Airways consortium last year, initially owing to weak demand and fierce competition. The announcement came hours after British media reported that the airline could collapse following its failure to secure a £100 million state loan to help stabilise the business.The COVID-19 virus' impact on travel"has made a bad situation much worse", sources told the BBC, while Bloomberg News reported Thursday that no agreement could be reached on a virus-related bailout.Flybe is the biggest operator of UK domestic flights.
Following Flybe's tax deferral earlier this year, rival companies including British Airways-parent IAG complained to the European Union that it was receiving unfair state aid.
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