Stobart in consortium set to take over struggling budget carrier Flybe

Flybe
Cumbria-based Stobart Group is part of a consortium taking over struggling budget airline Flybe in a cut-price deal. It announced details today of a joint venture, involving Virgin Atlantic, and Cyrus Capital Partners, which has made a recommended cash offer for the Exeter-based operator which put itself up for sale in November, blaming currency volatility, rising fuel costs and Brexit-related uncertainty. The joint venture, Connect Airways, is acquiring all the Flybe stock, and its to-be-issued stock, in a deal valued at just ... For the full story register now for free or login below...
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