U.K.’s Flybe Airline Is Seeking Urgent Rescue Deal

U.K. regional airline Flybe Group Plc is in crunch talks with the British government for emergency financing, less than a year after a group fronted by Virgin Atlantic Airways Ltd. stepped in to rescue the unprofitable carrier, Sky News reported. EY is on standby to handle any potential liquidation, according to the report, which cited unidentified aviation industry sources, Bloomberg News reported. More than 2,000 jobs are at risk, Sky said. Flybe issued a short statement, saying it remains in business. “Flybe continues to provide great service and connectivity for our customers while ensuring they can continue to travel as planned. We don’t comment on rumor or speculation.” The airline’s collapse would add to the litany of failures in European aviation, which is blighted by low margins and acute competition in the short-haul market. Read more