Regional airline FlyBMI owed £37m when it collapsed

Regional airline Flybmi owed £37m when it collapsed earlier this year, blaming rising fuel and carbon costs and Brexit uncertainty.

The airline filed for administration in February and most creditors, including passengers and suppliers, might only receive one per cent of their claims, the BBC reported.

Read more: BDO steps in as Flybmi administrator

Passengers were due £3.8m under EU compensation laws and were told to contact travel agents, insurance firms or credit card companies to secure a refund.

Rolls Royce was also owed £2.25m for a servicing contract, and Stansted Airport and Bristol Airport were both owed money by the airline.

Read more: Flybmi: Regional airline Loganair takes on cancelled routes

Flybmi ran flights connecting UK regional airports and European cities, mainly for business passengers.

The company had 17 aircraft, 14 of which were detained following the administration.

Many of the airline’s routes, planes and former staff have been moved over to its sister carrier Loganair.