Virgin Atlantic in talks to rescue Flybe

Flybe and Virgin Atlantic have confirmed they’re in talks a few sale or nearer alliance.

The move comes once cash-strapped Flybe place itself up purchasable earlier this month.

The Exeter-based regional airline same that Virgin was “one of the parties” it’s been in discussions with.

Last month, Flybe warned its full-year losses would be £22m, blaming falling shopper demand, a weaker pound and better fuel prices.

Confirming the talks, Flybe additional that there was no certainty that a proposal would be created by Virgin.

In a short statement, Virgin Atlantic same it “has a mercantilism and codeshare relationship with Flybe and confirms that it’s reviewing its choices in respect of Flybe that vary from increased business arrangements to a potential provide for Flybe”.

Since touch a value of nearly 50p in March this year, Flybe’s shares have fallen by over three-quarters. On Friday, they jumped by nearly [*fr1] to fourteen.3p.

Flybe, whose roots go back to 1979, has seventy eight planes operative from smaller airports like London town, Southampton, Cardiff, Aberdeen and Norwich to destinations within the Great Britain and Europe.