Flybe sold for £2.2m in cut-price deal

11 Janvier, 2019, 15:45 | Auteur: Auguste Feret
  • Flybe plane

Connect Airways will also buy Stobart Group's regional airline and aircraft leasing business and combine the two acquired businesses.

The move ends months of speculation over the future of the airline which flies several key routes from the Isle of Man, including Manchester and Liverpool.

Flybe put itself up for sale after another profit warning in October, blaming a mix of currency volatility, rising fuel costs and Brexit uncertainty. In due course Flybe will be rebranded to Virgin Atlantic.

The group, known as Connect Airways, also includes Southend Airport owner Stobart Group and the USA private-equity firm Cyrus Capital Partners.

The deal will see Cyrus, Stobart group and Virgin Atlantic commit to make available a £20 million bridge loan to support Flybe's ongoing working capital and operational requirements.

Warwick Brady, boss of Southend Airport owner Stobart Group, advised by Barclays, said the takeover is an "excellent opportunity" to grow passenger numbers at the airport, and to "play an active role in United Kingdom regional flying".

Barcelona director Guillermo Amor backs Philippe Coutinho
He has not started a game since December 2 and saw just seven minutes of action during a 2-1 victory over Getafe on Sunday . Overall, Coutinho has made 23 appearances for Barcelona this season, scoring five goals and assisting in another four.

Anne Hidalgo renonce à la gratuité universelle des transports en commun — Paris
Mais il ne faut pas oublier les autres leviers: l'amélioration de l'offre, de la qualité et du confort des transports publics. A la prochaine rentrée scolaire, la mesure sera étendue à tous les 4-11 ans.

Aldridge scores 56, Spurs outlast Thunder in 2OT
After the Spurs essentially abandoned the 3-pointer after their hot start, White drained a 3 to put San Antonio up 129-126. In his first career 50-point game, he finished with 56. "I definitely want to have that ball to add to the collection".

The group said it would "create a fully-fledged United Kingdom network carrier under the Virgin Atlantic brand" providing an opportunity for Virgin, which now focuses on long-haul, to expand in the UK.

Cyrus will own 40% of the new company, while Virgin and Stobart will take 30% apiece.

She said: "The industry is suffering from higher fuel costs, currency fluctuations and significant uncertainties presented by Brexit".

"We have been affected by all of these factors which have put pressure on short-term financial performance". At the same time, Flybe suffered from a number of legacy issues that are being addressed but are still adversely affecting cashflows.

Christine Ourmières-Widener, Flybe's chief executive, blamed the airline's woes on external factors, and said it would be better able to withstand difficulties as part of a larger group.

The suitors said they would "secure the long-term future of Flybe, to the benefit of local communities, customers and its people".

Conseillé:



Populaire

Muller, Woeber and Lovren handed match bans — UEFA crackdown
UEFA's disciplinary panel imposed a two-game ban on Friday for Mueller's red card after a bad tackle against Ajax last month. Speaking after his red card, Muller said: 'I would like to apologise to Nico Tagliafico.

NWS: Winter weather advisory issued beginning Friday afternoon
Total snowfall is forecast to range from 7-inches in central Illinois to an inch or less near the Illinois-Wisconsin border. Winter Storm Watches and Warnings stretch well to our west and this storm will likely make for tricky travel conditions.

Syria troop withdrawal under way, says US-led coalition
The reference was to Bolton's remarks this week the United States would not exit Syria until Turkey promised not to target U.S. A top Kurdish politician told Reuters last week the Kurds had presented Moscow with a road-map for a deal with Damascus.

Lana Del Rey dévoile un nouvel extrait de son prochain album
Le titre est interminable, jugez plutôt: " Hope is a Dangerous Thing for a Woman Like Me To Have - But I Have It". Malgré tout, Lana Del Rey semble garder espoir d'un meilleur lendemain.

Un combat de boxe Booba/Kaaris en avril
Booba avait commencé à annoncer ce combat via une bande annonce faite par un internaute et digne d'un blockbuster américain. Un programme bien ficelé selon Booba , " Le Duc de Boulogne", qui n'avait omis qu'un détail: l'autorisation de la ville.

Open d'Australie: Murray est proche d'arrêter sa carrière !
Au début de l'année dernière, il avait subi une opération de la hanche qui l'avait éloigné des courts jusqu'en juin. Andy Murray a fait sa rentrée au tournoi de Brisbane après une absence d'un an due à son opération.

NHS long-term plan 'fantastic' for pharmacy but will require 'transformative change'
Dukes added that a reform of community pharmacy's reimbursement arrangements is needed to ensure a real contribution from the sector to the plan.

Indian nurse 'pulls baby's head off during birth'
The man in charge of the heath centre in Ramgargh, Dr Nikhil Sharma, said he wasn't present at the time of the incident. Health minister Raghu Sharma said, "Those guilty will be punished and strict action will be taken after investigation".

Protests In Bihar's Gaya After Teen Found Beheaded, Family Alleges Rape
Locals on Wednesday took out a protest candle march in Gaya demanding the immediate arrest of those involved in the killing. She also revealed that the victim was seen last with their father's butcher friend, Leela Patwa, on December 31 night.

Climate scientists alarmed at speed of ocean warming
The world's oceans are rising in temperature faster than previously believed as they absorb most of the world's growing climate-changing emissions, scientists said Thursday.