Short-haul, domestic airline Flybe could start again if a deal is sealed to take control of its assets.
The regional airline, which was headquartered in Exeter but operated out of UK centers like Birmingham and Manchester, went into administration in March.
The early stages of the coronavirus pandemic added to the existing financial troubles that forced the collapse with hundreds of jobs lost.
However, administrators EY sold the brand and its remaining assets to Thyme Opco, meaning the airline could resume flights in early 2021.
Joint Administrator Simon Edel said, “The restart of this iconic brand, which was once Europe’s largest regional airline, will bring a potentially significant boost to aviation jobs, regional connectivity and the local economy.”
A Thyme Opco spokesman added: “In addition to being a well-known UK brand, the airline is also the largest regional airline in the EU. Although we plan to start smaller than before, we expect to create valuable jobs in the aviation industry . ” Restore essential regional connectivity in the UK and help restore an important part of the country’s economy “
Before the collapse, Flybe carried approximately eight million passengers annually both domestically and to destinations in Europe, but has had financial problems for some time.
A consortium of Virgin Atlantic, Stobart Air and Cyrus Capital acquired the airline in 2019 with a plan to rename Flybe and use it as a liaison service for Virgin long-haul routes from Manchester and London.
But Virgin Atlantic has since announced steps to cut its operations along with thousands of job losses, so that proposal has now been postponed.
The civil aviation authority initially revoked the airline’s license when the company went into administration. It also lost much of its aircraft fleet when it collapsed.