"Flybe has now ceased trading and all flights from and to the UK operated by Flybe have been cancelled and will not be rescheduled," it said.
A spokesperson for administrators Interpath Advisory said about 75,000 Flybe customers had future bookings that would now not be honoured.
Headquartered in Birmingham, Flybe operated flights on 21 routes to 17 destinations across the UK and Europe using a fleet of eight leased Q400 turboprop aircraft.
A spokesperson for Interpath said 45 members of Flybe's 321-strong workforce had been retained for the time being.
Louise Haigh, the opposition Labour Party's transport spokesperson, said Flybe's collapse was "devastating news" for staff and customers.