FLYBE TO FLOAT TO FUND EXPANSION

UK domestic airline, Flybe, is reported to be gearing up to launch a stock market flotation which will value the company at £200 million. Local media report the airline will issue an intention to float by the end of this week; Merrill Lynch and Investec are advising on the deal. The airline is reported to be planning to use the cash generated by the sale to fund its expansion plans, which could include buying Swiss regional airline Flybaboo or an as yet unconfirmed Finnish airline, if newspaper reports are to be believed. Flybe is 70% owned by the Walker family