UK regional airline British Midland Regional Limited trading as Flybmi has filed for administration due to higher fuel costs and uncertainty created by Brexit.
Flybmi appointed BDO business restructuring partners Graham Newton, Tony Nygate, and James Stephen as joint administrators.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The airline, which flew 17 regional jet aircraft to 25 European cities, ceased to trade on 16 February.
All flights operated by the company were cancelled as a result of the collapse.
The move has rendered the majority of the 376 employees across the UK, Germany, Sweden and Belgium redundant. According to BDO, some of the employees have been retained to assist through the administration process.
Tony Nygate said: “As joint administrators, we are taking all necessary steps to ensure customers, staff and suppliers are supported through the administration process. Our job is to maximise recoveries and minimise distress for all parties, acting as smoothly and swiftly as possible.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“Customers can find information on the Flybmi website regarding the steps they need to take to apply for a refund from their payment provider or travel company.
“We are also working with the company’s employees to provide them with guidance on how to make a claim for monies which may be due to them. In addition, we are contacting suppliers to explain how to apply for monies owed to them.”
Following the collapse, Flybmi’s sister company Loganair stepped in to take over five key air routes.
Airline Investments is the parent holding company of both airlines.
Stranded passengers have been advised to rebook flights with an alternative airline and contact their insurance and credit card companies for a refund.
In a statement, Flybmi said: “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.
“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.”
