Connect Airways has received merger clearance from the European Commission for its acquisition of Flybe. The go ahead will also see Connect acquire subsidiary Propius Holdings, and gives approval for its investment in Stobart Air Unlimited Company.
Mark Anderson has been appointed chief executive of Connect Airways. Jointly owned by Virgin Atlantic, Stobart Group and fund manager Cyrus Capital Partners, the new entity will take control of struggling regional carrier Flybe.
Flybe has announced that Christine Ourmières-Widener has decided to step down from her role as chief executive. The news follows the near collapse of the airline and its eventual acquisition by Connect Airways.
After a day of confusion and delays, Flybe has confirmed it will scrap a number of bases and reduce the size of its fleet. The regional carrier confirmed its previously stated strategy to return all of its 118-seat Embraer 195 planes to lessors.
Regional airline Flybe, which was recently saved from bankruptcy, has continued to struggle this morning, following the cancellation of dozens of flights.
Korean Air has announced an interline agreement with Flybe, which will enable agents to book Korean Air flights from regional airports in their global distribution system.
A consortium led by Virgin Atlantic and Stobart Air has completed the takeover of stricken regional carrier Flybe. All Flybe assets and operations are now owned by Connect Airways and Flybe flights continue to operate as normal, according to a statement from the company.
Regional airline Flybe has warned shareholders it will be wound up if they do not accept the terms of an acquisition proposed by Connect Airways, potentially leaving them with nothing
Flybe has told investors it expects the takeover of the airline to be complete on February 22nd. The regional carrier signed an acquisition deal with Connect Airways - a consortium led by Virgin Atlantic and Stobart Group - earlier this month.
International Airlines Group-owned Vueling will pay £4.5 million for the slots in two tranches, the first being receivable in the next few days. Flybe in 2013 sold several slots at Gatwick to easyJet for £20 million as it sought to rationalise its operations.