LONDON (Alliance News) - Airline Flybe Group PLC on Monday said former Stobart Group Ltd Chief Executive Andrew Tinkler now has a 12% stake in the company.
Tinkler's stake prior to last Friday's transaction was not disclosed.
Tinkler was head of Stobart from 2007 to 2017. Stobart is part of consortium Connect Airways Ltd, which also includes Virgin Atlantic Ltd and a fund management by Cyrus Capital Partners LP, that last week agreed a GBP2.2 million deal takeover deal for Flybe.
Shares in Flybe closed 9.9% higher on Monday at a price of 4.12 pence each, compared to the 1p offer made by the consortium.
