Flybe shareholders urged to accept Virgin Atlantic's £2.2m takeover offer

The Guardian - Jan 11, 08:43 GMT

Shares in regional airline fall 90% after consortium led by Virgin tables cut-price dealFlybe has recommended shareholders accept a cut-price £2

Shares in regional airline fall 90% after consortium led by Virgin tables cut-price deal

Flybe has recommended shareholders accept a cut-price £2.2m takeover offer from a consortium led by Virgin Atlantic, after the regional airline struggled with rising fuel costs, currency volatility and political uncertainty.

Virgin, part-owned by the billionaire Sir Richard Branson, has banded together for the deal with the infrastructure firm Stobart Group and the investment house Cyrus to form a joint venture, Connect Airways.

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