Flybe bought out of administration

Regional airline serviced IoM until its collapse in March

Regional airline Flybe has been bought out of administration.

The airline serviced the Isle of Man up until its collapse at the start of March, citing a significant reduction in passengers due to the coronavirus pandemic. 

A company controlled by hedge fund executive Lucien Farrell (Cyrus Capital) will buy the carrier.

Early reports say Flybe is planning to return to the skies early next year.

The new owner says the airline plans to 'start off smaller than before.'

Manx Radio has approached the company for comment.