Europe’s largest regional airline had accountancy firm EY on standby in preparation for the worst case scenario, according to Sky News. It comes less than 12 months after the airline was bailed out by a Virgin Atlantic-headed group of buyers.
The Government has allegedly been warned of the possibility that thousands could potentially lose their jobs of the airline collapses.
One source told Sky News on Sunday night that the Department for Transport and Department for Business, Energy and Industrial Strategy has been looking into whether the Government could provide emergency funds.
Flybe said last night: “Flybe continues to focus on providing great service and connectivity for our customers, to ensure that they can continue to travel as planned.
“We don’t comment on rumour or speculation.”
Flybe began operating in 1979.
The airline handles more than half of the UK’s domestic flights outside of London.
It comes last year, the airline decided to scrap jet flights from four UK airports.
Passengers set to depart from Cardiff, Doncaster, Exeter and Norwich were affected in a move which was announced following a mass flight disruption in April.
READ MORE: Flybe passengers EVACUATED on Exeter runway as smoke fills cabin
Flybe CEO, Christine Ourmières-Widener said at the time: “Our fleet reduction has always been core to improving our profitability.
“We are committed to assisting all our affected employees across the impacted Flybe bases.
“We remain fully committed to Exeter, Cardiff and Doncaster airports and will continue to offer a comprehensive choice of regional and European destinations operated by our 78-seat Bombardier Q400 aircraft.”
The airline, while it cancelled the jet aircraft from the four hubs, continued flying the Q400 versions.
These comprise 78 seats and Flybe has classed them as “ideal” for its regional network.