THOUSANDS of jobs are at risk with the collapse of one of Europe’s biggest regional airlines.

Flying 15 routes from Southampton Airport, Flybe is at risk of going under according to a recent report.

Running more domestic flights than any other UK operator, it is believed to be in emergency talks to secure financing after suffering rising losses.

Flybe has reportedly been talking with the Department for Business, Energy and Industrial Strategy and the Department for Transport about financing from the government.

A Flybe spokeswoman said: “Flybe continues to focus on providing great service and connectivity for our customers, to ensure that they can continue to travel as planned.

“We don’t comment on rumour or speculation.”

Both government departments issued the same statement, claiming they do not comment on speculation or the financial affairs of private companies.

Meanwhile, a Southampton Airport spokesperson said: “It is business as usual for us today. We are fully committed to supporting all of our airline partners and continuing to develop and progress our plans for responsible, sustainable growth. It would not be appropriate to enter into any speculation.”

Flybe operates from 27 airports across the UK.

It also flies to and from France, Germany, Ireland, Italy, the Netherlands, Luxembourg and Switzerland.

It came close to collapse last year but Virgin Atlantic, Stobart Group and Cyrus Capital Partners bought the company’s operating assets.

As previously reported by the Daily Echo, Flybe is dropping eight Southampton Airport routes this summer.

The airport claims the decision shows the need for a longer runway so a wider range of aircraft can use the site.

Flybe axed its services to Malaga and Alicante in Spain, Mallorca’s capital Palma and Faro in Portugal.

It is also dropped four destinations in rural France – Biarritz, Nantes, Bordeaux and Bastia on the island of Corsica.

Neil Garwood, managing director of the airport, said: “Flybe is reducing its services next year, which is regrettable. However, this reinforces the case for us to invest in our runway, so that we can ensure that we are resilient to any future changes in the aviation market and can offer even more choice to our passengers.We are already having discussions with other airlines to backfill routes.