Failed British airline Flybe to relaunch this summer

LONDON (Reuters) - Flybe, the regional British airline which failed last year, is set to relaunch this summer after the sale of the former company's business and assets to a new company backed by investor Cyrus Capital.

"We plan to launch a new and much improved Flybe sometime this summer on many of our former routes," said a spokesman for the new company, called Flybe Limited, on Wednesday.

The administrators of the former company Flybe, which fell into insolvency at the beginning of the pandemic last March, said on Wednesday that they had completed the sale of the business and assets to the new company.

(Reporting by Sarah Young; Editing by Alistair Smout)