Interpath said it will begin “winding down the business” and “identifying options” for the sale of “rights, interests and assets”.
Regional provider Flybe fell under insolvency for the 2nd time in 3 years on January 28, with all flights grounded.
There was speculation that airline company groups Lufthansa and Air France-KLM remained in talks with the administrators to purchase the airline company, which held rewarding liftoff and landing slots at Heathrow Airport.
David Pike, handling director at Interpath and joint administrator of Flybe, said: “Over the previous two-and-a-half weeks, we’ve held extensive conversations with a variety of operators with a view to saving the airline company and protecting the worth in its properties.
“Unfortunately, there was a difficult set of situations at play, consisting of the use-it-or-lose-it guidelines associated with slots, intricacies with European acknowledgment of a prospective Temporary Operating Licence and the high expenses connected with protecting the business’s operating platform, which suggested there was a restricted window in which a clear course forward might be set.
“Furthermore, it was clear from the beginning that there was just a restricted variety of celebrations who had the needed tactical fit and who might browse the intricacies of such a deal to get an offer over the line. We thank those celebrations for their engagement.
“However, it is with regret that discussions have now been brought to a close without a deal being agreed.”
Interpath verified that “a further 25 employees have been made redundant with immediate effect”.
On January 28, it said 277 of Flybe’s 321 staff would be made redundant.
Flybe was very first pressed into administration in March 2020 with the loss of 2,400 tasks as the Covid-19 pandemic damaged big parts of the travel market.
Before that, it had actually flown more UK domestic paths in between airports outside London than any other airline company.
Its business and properties were bought in April 2021 by Thyme Opco, connected to United States hedge fund Cyrus Capital.
Flights resumed 12 months later on, with the airline company based at Birmingham Airport.
