Aberforth17 Nov 2018 07:39
News
Aberforth Partners Cuts Flybe Stake By More Than Half (ALLISS)LONDON (Alliance News) - Flybe Group PLC said Friday Aberforth Partners LLP has reduced its ...
Alliance News16 November, 2018 | 3:33PM
LONDON (Alliance News) - Flybe Group PLC said Friday Aberforth Partners LLP has reduced its holding in the company to 4.1%.
Before Friday's deal, Aberforth used to hold a 10% interest in the regional airline.
On Wednesday, Flybe put itself up for sale as rising fuel costs and currency headwinds continued to hinder its performance.
The company, based in Exeter, is in talks with a number of parties over a possible sale, and said anyone interested will enter non-disclosure agreements before submitting a proposal.
According to the Financial Times, both easyJet PLC and Stobart Group Ltd are mulling bids for the struggling peer.
Flybe shares were trading down 10% at 8.87 pence each on Friday afternoon.