British company Virgin Atlantic, together with Connect Airways investors, are buying the Flybe low-coster. Negotiations were conducted in 2018 and the parties managed to agree on the amount of 2.2 million pounds. Upon completion of the deal, investors will spend 80 million pounds on the development of airline business. The new owners of the low-cost airline will also attract a loan of 20 million pounds and direct it to “support working capital and operational needs”. A consortium of investors will expand the network and increase the range of flights, while Flybe will continue to serve passengers in the UK and Ireland.
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