Virgin-led consortium buys Flybe, pledges to improve services

News | Published:

FLYBE'S new owners have pledged more choice to customers across their UK network and improved connectivity to Manchester and Heathrow airports.

(Picture by Peter Frankland, 23356968)

Connect Airways- which includes Virgin Atlantic Limited, Stobart Group and Cyrus Capital – have had a cash offer for the struggling airline accepted.

The new owners have confirmed that a £20m. bridge loan will support Flybe's ongoing operating costs, while a further £80m. will be provided to invest in the business and support its growth.

The announcement has come after the airline issued a profit warning last November, stating it expected to lose £22m. last year.

The new owners have pledged to improve the service and connectivity, as well as utilise the Virgin Atlantic brand.

Flybe, which operates in a franchise partnership with Blue Islands, offers services between Guernsey and Jersey, Exeter, Birmingham and Southampton.

Juliet Pouteaux

By Juliet Pouteaux
News reporter


Top Stories


More from the Guernsey Press


UK & International News