MIAMI – It could be a shining summer for Flybe (BE), now Flybe Ltd., after its sale was completed more than a year after the carrier collapsed and was compelled to cease operations.

According to various media, including BBC News and Devononline website, Thyme Opco Limited, an affiliate of Cyrus Capital investment advisers, has acquired what is left of the former BE. Assets include the BE brand name, website, name domain, and the air carrier certificate, although there are doubts on its validity of the latter since the license was revoked when BE collapsed. As a result of the dea, Thyme Opco Limited will become Flybe Limited.

The new owner has already indicated that the new BE shall be smaller than the former. No details were made available on how small and on aircraft types. Flybe fleet was dispersed when the company collapsed and the sale did not comprise aircraft but owns highly valued slots at London-Heathrow (LHR) and other major airports.

The airline was a carrier of major importance for many small airports in England, with large operations out of Southampton (SOU), Belfast City (BHD), and Exeter (EXT), and it carried around 8ml passengers and assured 40% of regional flights in the United Kingdom while employing 2200 persons.

Flybe G-PRPM Bombardier Dash 8-Q400 – Photo : Alberto Cucini/Airways

Comments from Thyme Opco

“We are extremely excited to announce the conclusion of almost six months of dedicated hard work by the great team at Flybe, the UK Civil Aviation Authority, the European Commission, and the many others who made this announcement possible” commented a Thyme Opco spokesperson, adding “Today‚Äôs news represents a critical first step in our mission to accomplish the first-ever rescue of an insolvent British airline.”

Counting on the ongoing worldwide vaccination program and an ensuing relaxation in travel restrictions, BE plans to launch “an improved airline sometime this summer and on many of the former routes where the need remains for a strong and reliable airline.”

Featured image: Flybe G-FBJG Embraer E175 – Photo : Francesco Romeo Cecchetti/Airways