'British regional airline Flybmi has announced today that it is suspending all of its operations and filing for administration, with the firm blaming rising fuel costs and the uncertainty of the Brexit process.
The airline is based at East Midlands Airport and has a number of outposts throughout Britain and Europe.
It delivers passenger flights to 25 destinations, including Brussels, Leeds, Munich and Bristol.
A total of 376 employees based in the UK, Germany, Sweden and Belgium are employed by bmi Regional.
A spokesperson for FlyBMI said: 'It is with a heavy heart that we have made this unavoidable announcement today.
'The airline has faced several difficulties, including recent spikes in fuel and carbon costs, the latter arising from the EU's recent decision to exclude UK airlines from full participation in the Emissions Trading Scheme.
'These issues have undermined efforts to move the airline into profit.
'Current trading and future prospects have also been seriously affected by the uncertainty created by the Brexit process, which has led to our inability to secure valuable flying contracts in Europe and lack of confidence around BMI's ability to continue flying between destinations in Europe.'
The statement added: 'Additionally, our situation mirrors wider difficulties in the regional airline industry which have been well documented.
'Against this background, it has become impossible for the airline's shareholders to continue their extensive programme of funding into the business, despite investment totalling over £40 million in the last six years.'
Read more: British airline FlyBMI cancels all flights as company files for administration due to rising fuel costs and uncertainty over Brexit
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