Flying Colours was a UK charter airline that operated for 4 years between 1996 and 2000.
The airline had several operational bases outside of its Manchester Airport headquarters. In 1998 the tour operator Thomas Cook Group acquired Flying Colours Leisure Group.Subsequently the in-house charter airline of Thomas Cook, Airworld, adopted the Flying Colours Airlines brand. In 1999 Thomas Cook completed the acquisition of Carlson Leisure Group, who operated the charter carriers Caledonian Airways and Peach Air. In 2000, Thomas Cook rebranded their charter airline operations as JMC Air. JMC Air was rebranded as Thomas Cook Airlines in 2002.
Source: Wikipedia

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