FLYBE, Europe's biggest regional airline, has collapsed into administration, causing fears for the future of Cardiff Airport.

The carrier narrowly avoided going bust in January but has continued to lose money.

A drop in demand caused by the coronavirus "made a difficult situation worse" for Flybe and administrators announced in the early hours of this morning (March 5) that it had ceased trading with immediate effect.

Crisis talks were held throughout the day on Wednesday to try to secure a rescue package, but no deal was agreed.

However, flights between Anglesey and Cardiff are not impacted by the announcement as they are operated by franchise partner Eastern Airways, which own their own aircraft and employ their own staff.

But Plaid Cymru shadow minister for the economy Helen Mary Jones AM said today's announcement was “deeply concerning” for the future of Cardiff Airport.

Russell George AM/AC, the Shadow Minister for Transport, commenting on troubled airline, added: "The collapse of Flybe is devastating news for their dedicated staff and loyal customers. 

"There will be major implications for Cardiff Airport where the majority of flights from Cardiff are with Flybe, and the route between Anglesey and Cardiff is run by Flybe.

"I urge the Welsh Government to work fast to secure options to replace the routes with other operators and secure jobs for staff as well as supporting Cardiff Airport.

“As the flagship enterprise – a state-owned entity – of this Welsh Labour Government, the same government’s reaction and policy now is more vital than ever.“

Speaking to Sky News, Transport Secretary Grant Shapps said: "We're all a bit gutted - Flybe is a household name, we've been flying with them for 40 years and we really tried to do everything we could back at the turn of the year.

"Unfortunately, with the situation that has developed with [coronavirus], an already weak company, I'm afraid, just hasn't been able to survive."

He added: "The concern is for people who have found themselves stranded and we've got people at the airport to be able to assist and we're writing to all the other companies - coach companies, train companies - and asking them to assist.

"Then, of course, the people who worked for Flybe, a couple of thousand staff, we will be right alongside them to try and help them get into their next employment."

Simon Pritchard, an IT consultant from South Wales, said the collapse of Flybe meant he was unable to get a flight to his intended destination of Manchester.

"EasyJet flights from (Belfast) international to Manchester are all sold out until Monday. So the alternative is a seven-hour ferry, or fly to Liverpool then get a bus or train back to Manchester.

"I chose Manchester as the flights for business are timed well - early evening and early morning. I then have a four-hour drive home to South Wales."

He added that he previously used Flybe direct from Cardiff, but a recent reduction in service of late meant there was only one flight a day, at an unsuitable time.

"Have also got more business flights booked with Flybe in the coming weeks, to Isle of Man and back to Northern Ireland, not sure what I'll do with those now," Mr Pritchard said.

But he added: "Hotels can be booked, alternatives can be arranged. More worried about those who have woken up with no job today."