Flyr and an undisclosed European airline have signed an LOI for the wet lease of one aircraft, with discussions ongoing for a further aircraft. The agreement will generate positive cash flow for Flyr and is for a period of 9 months, starting in February.

"This wet lease agreement provides a compelling opportunity to generate positive cash flows fromaircraft that we were not planning to fully utilize in the coming winter. The agreement strengthens Flyr’s financial position as we continue to roll out our updated strategy," said Flyr CFO Brede Huser.

Flyr is actively pursuing these opportunities in the market through the winter, both to generate positive cash flow from aircraft not utilised and to be able to bring temporarily furloughed crew back as soon as possible.