BUDGET airline Flybe is "on the brink of collapse" putting 2,000 jobs at risk.
The firm is believed to be holding crunch talks with the government to discuss the possibility of emergency funding to save the company, reports Sky News.
The British airline operates more UK domestic flights than any other carrier but has suffered mounting losses in recent years.
If the firm does fall into administration, it will be the latest in a string of airlines that have gone bust in recent years.
Thomas Cook went into liquidation last year, while Primera Air and Cobalt went under in 2018 and Monarch Airlines calling it a day in 2017.
WOW Air also fell into administration in March but was relaunched in October after being rescued.
How to get a refund
CUSTOMERS who have bought tickets for upcoming flights with Flybe are being advised not to cancel them.
This is because you might not be able to get a refund if the decision not to travel is made by you, not the airline.
If the airline does go bust, then this is how you may be able to get your money back.
Can I get a refund? If you booked directly with Flybe by credit card then you need to contact your lender to claim under Section 75 of the Consumer Credit Act, as long as you paid over £100.
If you paid by debit card then you may be able to get a refund by going to your bank and using Chargeback.
If you booked using a third party travel agent within the EEA as part of a third party holiday then you may be covered under the Package Travel Directive and you can contact your travel agent to book an alternative flight.
If you booked with an agent or holiday website and they are ATOL protected then you’ll get flights rebooked.
Claim on insurance
If you can’t claim compensation directly through the airline, your travel insurance may refund you but it depends on the terms and conditions of your policy.
If you’ve booked a hotel or accommodation then insurance may cover the refund.
Flybe is operating as usual today and all future flights are also planned to go ahead as normal.
Ticket holders shouldn't cancel their upcoming flights because they might not be entitled to a refund.
This is because they will have made the decision not to fly, not the airline.
If the company does go bust, then you may be able to get a refund through your credit card provider under Section 75 of the Consumer Rights Act if the payment is more than £100.
Flights booked by debit card may be able to claim a refund by their banks using the Chargeback scheme.
Those who booked their flights as part of a holiday package will be ATOL protected, so any cancelled flights will be rebooked.
You may be able to claim the money back on your insurance if the company does collapse, although it depends on the terms and conditions of your policy.
If you're worried about a future journey you have with the airline you can call the customer care team on 0371 700 2000, between 8am and 6:30pm on weekdays.
Flybe flies 8.5million passengers each year to 170 European destinations.
Last February, the airline was bought by a group of companies led by Virgin Atlantic, and including Stobart Air and Cyrus Capital for £million following poor financial results.
Flybe completed the sale of its assets to the group in the deal worth only 1p per share.
Flybe said it didn't comment on rumour or speculation, while the a spokesperson for the Department for Business, Energy and Industrial Strategy (BEIS) and the Department of Transport (DfT) said that it doesn't comment on "financial affairs of private companies."
A Flybe spokesperson added: "Flybe continues to focus on providing great service and connectivity for our customers, to ensure that they can continue to travel as planned."
The Exeter-based firm currently operates a number of domestic routes in Britain between cities which are connected by direct trains, such as Manchester-Glasgow, Birmingham-Edinburgh, Exeter-Manchester and Exeter-London City.
It also runs flights connecting airports like Birmingham to Paris and other smaller European cities.
Brian Strutton, general secretary of pilots' union Balpa, said he was "appalled" that the future of another airline "is being discussed in secret with no input from employees or their representatives".
He urged the parties involved to "stop hiding and talk to us".
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