Monkeymeetsrobot's suggestion is the first thing I would have suggested myself -- your original post made no mention of no write-lock switch -- many flash drives have them -- one of mine does and when locked would exhibit that behavior and the other one that doesn't, it still works properly.
That said, now that we know that yours doesn't have a write-lock switch, maybe you could try this:
It's a long shot, but what happens when you launch
Terminal and type
ls -ld /Volumes/{usbStickName}?
If the permissions are not
drwxrwxrwx, then, perhaps, from an admin-privileged account, you could
sudo chmod 777 /Volumes/{usbStickName}
and with any luck, you will have write privileges again.
Something to try....no guarantees....
Short of that, you may be giving your friend a slightly used usb flash drive as a Christmas present.
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