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Connect Airways information


Connect Airways Limited
Company typePrivate limited company[1]
IndustryAviation
Founded18 December 2018 (2018-12-18)[1]
FoundersVirgin Atlantic
Stobart Aviation
Defunct10 March 2020
FateUnder administration
HeadquartersExeter Airport, Devon, England
Key people
Mark Anderson, CEO
ProductsAirlines
Owners
  • Virgin Atlantic (30%)
  • Stobart Aviation (30%)
  • Cyrus Capital Partners (40%)[2]
SubsidiariesFlybe
Websiteconnect-airways.com

Connect Airways was a consortium formed in December 2018[1] to acquire the British regional airline Flybe,[2] which had put itself up for sale in November 2018 after issuing a profit warning the previous month,[3] The consortium comprised Virgin Atlantic and the Irish wet-lease specialist airline Stobart Air.[2]

The consortium was founded by Virgin Atlantic, Stobart Aviation and Cyrus Capital Partners through its Luxembourg-based vehicle DLP Holdings.[2] Virgin and Stobart each held 30% of the capital with Cyrus holding the remaining 40%.[4] Cyrus Capital had previously worked with Virgin Group on the launch of its Virgin America airline and its subsequent sale to Alaska Airlines.[5]

The purchase of the operating assets of the Flybe Group was completed on 21 February 2019.[6]

On 5 March 2020, the consortium was unable to commit further financial support and Flybe entered administration, ceasing all operations.[7] On 10 March 2020,[8] Connect Airways in turn entered administration.[9]

  1. ^ a b c "Connect Airways Limited – Overview (free company information from Companies House)". beta.companieshouse.gov.uk. Retrieved 11 January 2019.
  2. ^ a b c d Cite error: The named reference flightglobal-20190111 was invoked but never defined (see the help page).
  3. ^ "Flybe up for sale after profit warning". BBC News. 14 November 2018.
  4. ^ Flybe to Become Virgin Connect Airliner World December 2019
  5. ^ Dyson, Molly. "Virgin Atlantic and Stobart agree Flybe take-over". buyingbusinesstravel.com. Archived from the original on 2019-01-11. Retrieved 2019-01-11.
  6. ^ Cite error: The named reference cityam-20190221 was invoked but never defined (see the help page).
  7. ^ Cite error: The named reference Flight5march2020 was invoked but never defined (see the help page).
  8. ^ "EY Connect Airways limited | EY UK". www.ey.com. Retrieved 2023-04-16.
  9. ^ "Stobart Air parent Connect Airways in administration". ch-aviation. 18 March 2020.

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