Virgin Atlantic to be main shareholder in Flybe takeover – Reports

Flybe Bombardier Dash 8 Q400. Photo: © Rob Hodgkins

Virgin Atlantic is set to be the main shareholder in a new airline group, comprised of itself, Stobart Air and Flybe should the takeover go ahead. An official announcement is expected to be made tomorrow, Friday 11th, according to a Sky News report.

In November 2018, Flybe announced that it is looking for a buyer following a profit warning. It has been reported that the bidding price for Flybe will be significantly lower than its market value (£36.06 million), at the close of business on Thursday.

Flybe operates a fleet of around 80 regional aircraft to 85 destinations, making it Europe’s largest regional airline, while Stobart Air operates 18 aircraft to 31 destinations. The British long-haul carrier Virgin Atlantic itself is owned 49% by American legacy carrier, Delta Air Lines.

Virgin Atlantic and Flybe already have a codeshare agreement in place, meaning that passengers are able to transfer between the two airlines on selected flights.