{"id":6219,"date":"2019-01-11T07:53:06","date_gmt":"2019-01-11T07:53:06","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/flybe-rescued-by-virgin-and-stobart\/"},"modified":"2019-01-11T07:53:06","modified_gmt":"2019-01-11T07:53:06","slug":"flybe-rescued-by-virgin-and-stobart","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/flybe-rescued-by-virgin-and-stobart\/","title":{"rendered":"Flybe rescued by Virgin and Stobart"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape no-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"Flybe plane\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/1738A\/production\/_105141159_flybe1gettyimages-1053756444.jpg\" width=\"976\" height=\"549\"\/><span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Getty Images<\/span><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p class=\"story-body__introduction\">Flybe is being bought for \u00a32.2m by a consortium including Virgin Atlantic and Stobart Group.<\/p>\n<p>The sale comes after the Exeter-based airline&#8217;s <a href=\"https:\/\/www.bbc.co.uk\/news\/business-45887289\" class=\"story-body__link\">warning in October <\/a>that it would lose \u00a322m because of poor demand, a weaker pound and higher fuel costs. <\/p>\n<p>Shareholders in Flybe will receive 1p a share, while the consortium, which also includes venture capital firm Cyrus, will inject \u00a3100m.<\/p>\n<p>It will operate under the Virgin Atlantic brand.<\/p>\n<p>Flybe shares closed on Thursday at 16.38p.<\/p>\n<p>The shares had been trading at more than 30p before the profits warning, which sparked a downward spiral in the price.<\/p>\n<p>The consortium, known as Connect Airways, will initially lend \u00a320m to Flybe to support the on-going operations of the airline.<\/p>\n<p>A further \u00a380m will be invested in Flybe, which describes itself as Europe&#8217;s largest regional airline.<\/p>\n<p>Christine Ourmi\u00e8res-Widener, Flybe&#8217;s chief executive, said: &#8220;The industry is suffering from higher fuel costs, currency fluctuations and significant uncertainties presented by Brexit.  We have been affected by all of these factors which have put pressure on short-term financial performance&#8221;.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-46834827\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Getty Images Flybe is being bought for \u00a32.2m by a consortium including Virgin Atlantic and Stobart Group. The sale comes after the Exeter-based airline&#8217;s warning in October that it would lose \u00a322m because of poor demand, a weaker pound and higher fuel costs. Shareholders in Flybe will receive 1p a share, while the &hellip; <\/p>\n","protected":false},"author":0,"featured_media":6220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/6219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=6219"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/6219\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/6220"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=6219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=6219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=6219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}