Flybe, Europe's largest regional airline, is in bad weather less than a year after being rescued by a Virgin Atlantic-led consortium. The government is said to have received information about the Flybe crisis in recent days, with more than 2.000 jobs at risk if the company collapses.

Sky News was exclusive to reveal that the airline, which handles more than half of Britain's domestic flights outside London, has attempted to obtain additional financing amid increasing losses.

A source close to Flybe said on Sunday evening that the Department of Transportation and the Department of Business, Energy and Industrial Strategy had been working to determine whether the government could provide or facilitate emergency financing to the company.

If Flybe is not capable of a rescue, it would be the airline's second major collapse in four months, following Thomas Cook Group's implosion last September.

The airline in question has approximately 75 aircraft and serves more than 80 airports in the United Kingdom and Europe.

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