The British government said Tuesday it had reached a deal to save the struggling regional airline Flybeairlines like Flybe that have significant costs in dollars but take in revenue in pounds.
It is the second U.K.-based airline in four months to face failure. Thomas Cook went bust in September.
The British Airline Pilots' Association welcomed Tuesday's deal that will secure the jobs of 2,400 Flybe staff.
"The government is to be applauded for stepping up to the plate to help one of the few remaining independent U.K. airlines and a vital one at that," a spokesman said.