The Times23 Nov 2018 06:54
Virgin Atlantic hopes to take off with Flybe Group (FLYB). Virgin Atlantic is in discussions to acquire Flybe, the embattled no-frills carrier that put itself on the auction block last week. The long-distance carrier, part owned by Sir Richard Branson, is hoping to use the regional operator to funnel passengers on to its lucrative transatlantic routes. Flybe carries 9.5 million passengers a year on 78 regional 80-seat aircraft and employs 2,300 people. The discussions — first revealed by Sky News — come a week after Flybe raised the “for sale” sign after a sharp downturn in trading and a slump in its share price. Profits for the six months to the end of September halved amid reduced demand for tickets and a jump in fuel prices.