Flybe warns shareholders

Lauren Eldershaw
By Lauren Eldershaw February 8, 2019 14:33

Flybe warns shareholders

UK regional airline Flybe has told shareholders that unless they approve the sale of the company to Connect Airways – the consortium of Virgin Atlantic, Stobart Air and an investment firm – the company will be wound up. Shareholders stand to gain 1p a share under the deal on the table that sells the operating assets of the airline for £2.8m.

Flybe said in an announcement that if the sale is not approved, “the Flybe Directors intend to take steps to wind-up the Company and Shareholders are likely to receive no value for their shares in Flybe. Accordingly, the Flybe Directors believe that the terms of the Acquisition remain in the best interests of Flybe Shareholders as a whole and unanimously recommend that Flybe Shareholders vote in favour of the resolutions to be proposed at the Court Meeting and the General Meeting.”

Flybe will hold a general meeting on March 4.

Lauren Eldershaw
By Lauren Eldershaw February 8, 2019 14:33