Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News

News :
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
The feature you requested does not exist. However, we suggest the following feature:

UK regional airline Flybmi goes into administration blaming Brexit

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/16/2019 | 03:09pm EST

LONDON (Reuters) - British regional airline Flybmi has gone into administration and has cancelled all flights with immediate effect, the company said in a statement on Saturday, blaming Brexit uncertainty as one of the reasons for its collapse.

A spokesperson for British Midland Regional Ltd said the company had taken the decision due to increased fuel and carbon costs and to uncertainty arising from Britain's plans to leave the European Union on March 29.

The airline, based in the English East Midlands, operates 17 planes flying to 25 European cities. It employs 376 people in Britain, Germany, Sweden and Belgium.

"We sincerely regret that this course of action has become the only option open to us, but the challenges, particularly those created by Brexit, have proven to be insurmountable," the company said.

Spikes in fuel and carbon costs had undermined efforts to move the airline into profit.

It added: "Current trading and future prospects have also been seriously affected by the uncertainty created by the Brexit process, which has led to our inability to secure valuable flying contracts in Europe and lack of confidence around bmi's ability to continue flying between destinations in Europe."

The airline, which said it carried 522,000 passengers on 29,000 flights in 2018, advised customers with bookings to contact their bank or payment card issuer to obtain refunds.

(Reporting by Gareth Jones and Stephen Addison; Editing by Hugh Lawson)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
03:09pUK regional airline Flybmi goes into administration blaming Brexit
RE
02:52pCanada's Freeland pushes end of steel, aluminium tariffs in meeting with Pelosi
RE
02:49pCANADIAN NATIONAL RAILWAY : CN says train leaking crude following derailment in western Manitoba
AQ
02:37p2019-02-16 — SITUATION IN HAITI : Transat repatriates its travellers
PU
02:33pJUVENTUS FOOTBALL CLUB : Griezmann lifts Atletico past strugglers Rayo
AQ
02:32pAPPLE : Google, Apple criticised for Saudi app allowing men to track female relatives
AQ
02:29pSITUATION IN HAITI : Transat repatriates its travellers
AQ
02:27pDANGOTE CEMENT : Dip in businesses of Diamond Cement and Dangote affecting Aflao custom collections
AQ
01:52pQATAR ISLAMIC BANK : QIB, Injaz programme teaches students to manage finance
AQ
01:43pMANCHESTER UNITED : Ferguson set for Manchester United return in charity match
AQ
Latest news
Advertisement