Flybe Group's (AIM:FLYB) administrators have failed in a last-ditch effort to save the airline.
Speculation of a takeover by Lufthansa and Air France-KLM (OTC:AFLYY) never developed following Flybe's collapse into administration for a second time in three years in January.
Administrator Interpath Advisory suggested a host of complexities and Flybe’s high operating costs had led to a collapse in takeover talks, confirming on Wednesday evening the embattled airline would be wound down.
The regional airline first declared bankruptcy in March 2020, as the pandemic hit the aviation sector leading to the loss of 2,400 jobs, before US hedge fund Cyrus Capital Partners affiliate Thyme Opco took over in April 2021.