Flybe is getting a second chance after being bought by a Virgin Atlantic and Stobart Group consortium. They are paying £2.2m. Going forward it will take on the Virgin Atlantic brand.
The sale came after Flybe warned of trouble in October. Exeter, UK-based Flybe operates from Southampton, Cardiff and Aberdeen, to the UK and Europe.
According to the CEO of Flybe the industry has been suffering from higher fuel costs, currency fluctuations and “significant uncertainties” presented by Brexit, Christine Ourmières-Widener, said. “We have been affected by all of these factors which have put pressure on short-term financial performance,” she said.