23rd Nov 2018 12:16
LONDON (Alliance News) - Flybe Group PLC on Friday confirmed that Virgin Atlantic Airways Ltd is one of the parties it is in discussions with as part of a formal sale process.
Late Thursday, the Sky News reported that Virgin Atlantic and infrastructure company Stobart Group were the leading potential bidders for Flybe.
Virgin Atlantic, in a separate statement on Friday, said it is reviewing its options in respect of Flybe which range from enhanced commercial arrangements to a possible offer for Flybe. Virgin Atlantic has a trading and codeshare relationship with Flybe.
Flybe and Virgin Atlantic both noted that there can be no certainty that an offer will be made, nor as to the terms on which any offer will be made.
The London-listed regional airline put itself up for sale on Wednesday last week. Stobart previously had bid for Flybe.
Flybe shares were up 50% on Friday at 14.50 pence each.
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