Virgin Atlantic together with investors buys British Flybe for 2.2 million pounds


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.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
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