flybe. (2002) (Exeter) was officially dissolved on March 18, records from the United Kingdom's Companies House show, putting an end to the administration that began in 2020. FBE Realisations 2021 Limited, as the company was formally known from that year, ceased to exist leaving 935,460 claims worth GBP684 million pounds (USD865 million) from creditors unpaid.
Debts owed to unsecured creditors remain unpaid, while secured creditors have received a small proportion of the amounts owed to them. BRAL Trustees was one of the biggest unsecured creditors, having been owed GBP96.5 million (USD122 million) for training services. It eventually received GBP3.1 million (USD3.9 million). Non-bank loan agency GLAS received GBP31.3 million (USD39.6 million). Around GBP2.7 million (USD3.4 million) went to 2,066 preferential creditors and four Redundancy Payment Service claims.
The name Flybe stopped trading on January 28, 2023, for the second time in three years. A new flybe. (Birmingham, GB) had relaunched operations on April 13, 2022, following the collapse of flybe. on March 4, 2020 early in the Covid pandemic.
However, the carrier’s brand name returned to the market in 2023 after the new Flybe went out of business too. That company came into being after hedge-fund-supported Thyme Opco purchased the business and some of Flybe’s assets in April 2021, consequently renaming itself Flybe Ltd. At the time, a symbolic nominal consideration was paid to FBE Realisations and some employees even switched to the new company. However, that project was short-lived and collapsed after 10 months.
When the new Flybe went under, it left unrescuable debts of more than GBP82.6 million (USD105 million), meaning there would also be no payout of what it owed to FBE Realisations, which as a result impacted the older company’s creditors.
