Belfast. Exeter. Southampton. Newcastle. Flybe planes provided a network linking up cities across the UK. But no more.
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Last night it went into administration after talks over a government rescue collapsed. The business has struggled for years. But the spread of coronavirus has been cutting passenger numbers for every airline, and Flybe couldn’t cope. Today there was a warning that the airline industry worldwide could lose more than 87 billion pounds of business this year as the virus freezes trade and tourism. And the Prime Minister has been holding emergency talks with the Chancellor and the Bank of England about how to shore up the economy as the virus spreads.
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In This Story: Bank of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government’s banker, and still one of the bankers for the Government of the United Kingdom, it is the world’s eighth-oldest bank.