11 MARCH 2019

YOUR WORDS


Readers are invited to add their comments to any story. Click on the article to see and add.

BTN DISTRIBUTION

BTN also goes out by email every Sunday night at midnight (UK time). To view this edition click here.

Index

Email this Page
Bookmark

The Business Travel News
PO Box 758
Edgware HA8 4QF
United Kingdom
+44 (0)20 8952 8383
info@btnews.co.uk
© 2019 Business Travel News Ltd.

Article from BTNews 11 MARCH 2019

Flybe deal approved

Shareholders in Flybe last week agreed to the sale of the airline to the Connect Airways consortium consisting of Virgin Atlantic, Stobart Air and Cyrus Capital, leaving them with just 1p per share.

Flybe had warned before the meeting at which the vote was taken that if shareholders did not accept the deal, the company would be wound up and they could end up with nothing.

In an official statement, Flybe said the sale did not affect flights because its airline operations and website were among the assets already sold to Connect in a £2.8m deal. Last week’s sale of the remaining “non-trading entity with no subsidiaries and no material assets” valued the company at £2.2m.

More than 80% of the shareholders voted for the sale. In a notice to the City, Flybe said:  "The results of the shareholder votes will not impact the assets, flights and operations of Flybe Ltd, which continue to operate as normal under the ownership of Connect Airways."

The new scheme is expected to come into play today, 11 March, and Flybe will no longer be a public listed company as of tomorrow.

www.flybe.com    www.virginatlantic.com

www.stobartgroup.com   www.cyruscapital.com

Index/Home page
 

OUR READERS' FINEST WORDS (All times and dates are GMT)

All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum


No one has commented yet, why don't you start the ball rolling?


Add your comment

First Name
Surname
Email Address
Company (Not obligatory)
Country/City
Comment
- You must be a registered subscriber using the email address entered to submit a comment, or you will be sent a confirmation email before your comment will appear.
- Your comment will be checked before appearing, which may take several working hours.


www.btnews.co.uk