Launched in 1979 as Jersey European Airways, and renamed Flybe in 2002, at various points it was the largest independent regional airline in Europe, and provided more than half of the UK domestic flights outside of London.

In October 2020, Thyme Opco, a company linked to former shareholder Cyrus Capital, agreed with the administrators to purchase the Flybe brand and relaunch the airline in 2021, subject to regulatory approvals.

[6] Initially equipped with an aging fleet of war-surplus Douglas DC-3 aircraft, Jersey European Airways gradually reequipped with more modern commuter airliners.

Initially, the two airlines were run separately although they partially shared management; Exeter Airport served as a critical hub, forming a meeting point between the two companies' route networks.

[7] In mid-1997, Jersey European Airways announced that it had achieved record results in its previous financial year amid a boom in Europe's regional airlines market; in the same year, the firm secured a franchise arrangement with Air France covering routes from London Heathrow to Toulouse and Lyon, expanded its fleet to provide 32% more seat capacity, and recorded a 27% increase in sales while profits had risen by nearly a third to reach £3.4 million.

[9][10] That same year, the airline, which operated a mixed fleet of 12 British Aerospace 146s, four Fokker F27s and two Short 360s was in the process of leasing additional BAe 146s to cater for expansion.

Jim French, Jersey European's deputy chief executive, announced that the company was performing detailed studies with the aim of introducing larger airliners in the 150- to 170-seat class, such as the Boeing 737 and Airbus A320 families.

Various pricing and product changes were made in line with this position such as discounted one-way tickets, the abolition of overbooking practices, a customer charter of the airline's service standards, as well as compensation for delays.

[15] In June 2005, it was announced that Flybe would procure a fleet of 26 Embraer E-195 regional airliners; it would claim that it had opted for the 118-seat E-195 over rival 150-seat aircraft due to economics and performance benefits.

[24] In 2008, in order to avoid losing a £280,000 rebate from Norwich Airport, Flybe advertised for "actors", as well as offering free return flights to Dublin on its website.

[26] Chief Executive Officer Jim French was recognised in the 2009 Queen's Birthday Honours List with a CBE for his services to the airline industry.

[35] In early 2016, it was announced that Flybe had negotiated a six-year agreement with SAS Scandinavian Airlines to fly 4 ATR 72–9 aircraft on their behalf, starting in October 2016.

On 26 October 2016, it was announced that Hammad would be standing down as CEO with immediate effect and consequently, Flybe was beginning the process of finding a replacement.

On 22 December 2016, Flybe started selling flights for 12 further destinations from Southend Airport in London in an extension to their existing franchise operation with Stobart Air.

[42] Later in the year, Flybe began flying from Heathrow to Aberdeen Airport and Edinburgh taking over slots previously used by Virgin Atlantic Little Red.

On 14 November 2018, after the airline's shares fell by 75%, Flybe announced that it was talking with various parties about a potential sale of the business, as part of a wide-ranging review of strategic options.

[49][50] On 11 January 2019, a takeover bid worth £2.2 million by the Connect Airways consortium, which includes Virgin Atlantic and Stobart Aviation, was confirmed.

In accepting the revised offer, Flybe's board said that it provided the security which the business needed and preserved the interests of its stakeholders, customers, employees, partners, and pension members.

[57] Notwithstanding the change, on 21 January 2019 one of the largest shareholders, Hosking Partners, threatened legal action to block the deal which it believed undervalued the company.

[56] On 20 February, Flybe said it had rejected an alternative "preliminary and highly conditional contingency proposal" from Mesa Air Group in Phoenix and supported by Tinkler, noting that it could not be executed quickly enough to enable the airline to continue trading.

[70] A deal was reached on 15 January, entailing a deferred payment plan for Flybe's tax debts and increased funding from Connect Airways.

[72] In February 2020, the UK government envisaged granting Flybe a £100 million rescue loan, and held talks with the EU Commission to ensure that state aid rules were not broken.

[77] The chief executive, Mark Anderson, said that Flybe had made "every possible attempt" to prevent the collapse but were "unable to overcome significant funding challenges".

They appealed to the UK transport secretary to ensure that Flybe's operating licence is not revoked, as this would prevent the sale of the valuable airport slots.

Further legal action remained, relating to Flybe's slots at Heathrow – which have been taken over by British Airways parent IAG – and to its air operator certificate.

[80] On 19 October 2020, reports emerged that Lucien Farrell, in charge of former shareholder Cyrus Capital's London office, had formed a new company, Thyme Opco, to purchase the Flybe brand and relaunch the airline, subject to regulatory approvals.

[87] In November 2021, the airline announced that it had picked Birmingham Airport as its new base, with operations scheduled to begin in early 2022 to "key regions across the UK and EU".

The airline held a Civil Aviation Authority Type A Operating Licence permitting it to carry passengers, cargo and mail on aircraft with 20 or more seats.

[citation needed] In 2014, Flybe signed their second franchise agreement with Stobart Air,[104] and initially started operating European routes from Southend Airport.

[129] Flybe received its first 118-seat Embraer 195 in September 2006, and the aircraft began to replace its existing BAe 146s, completing the fleet rationalisation which was started in 2003.