Flybe confirms discussions with Virgin Atlantic

Regional carrier Flybe has confirmed that Virgin Atlantic is among the groups with which it is holding discussions about a possible take-over.

The regional airline issued a statement to the London stock exchange on Friday (November 23) following media speculation.

Flybe, which put itself for sale the previous week following a plunge in profits, said: “The board of Flybe Group notes the recent media speculation and confirms that Virgin Atlantic Airways is one of the parties it is in discussions with as part of the formal sale process announced on 14 November 2018.

“There can be no certainty that an offer will be made, nor as to the terms on which any offer will be made.

“Further announcements will be made in due course as appropriate.”

Virgin Atlantic said: “Virgin Atlantic has a trading and codeshare relationship with Flybe and confirms that it is reviewing its options in respect of Flybe which range from enhanced commercial arrangements to a possible offer for Flybe.

“Virgin Atlantic emphasises that there can be no certainty that an offer will be made nor as to the terms of any offer.”

Virgin Atlantic is being advised by Rothschild & Co.