Flybe 'vital to UK transport infrastructure'

Shai Weiss, new chief executive of Virgin Atlantic said: “The Virgin Atlantic brand is built on the foundation of putting customers at the heart of everything we do, providing them with the choice they deserve and a travel experience they love.

“We are pleased to have this opportunity to partner with Stobart Group and Cyrus Capital to bring Virgin Atlantic service excellence to Flybe’s customers. Together, we can provide greater connectivity to our extensive long-haul network and that of our joint venture partners Delta Air Lines, at Manchester airport and London Heathrow. In the near future, this will only increase, through our expanded joint venture partnership with Air France-KLM.”

Christine Ourmieres-Widener, Flybe’s chief executive said: “Flybe plays a vital role in the UK’s transport infrastructure with a UK regional network which uniquely positions it to benefit from growing demands from long haul carriers for passenger feeder traffic.

“We have successfully implemented a clear strategy in recent years focused on tighter fleet management, improving revenue per seat and increasing load factors. The pursuit of operational excellence has reduced maintenance times and increased efficiencies and customer satisfaction.

“However, 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 has put pressure on short-term financial performance. At the same time, Flybe suffered from a number of legacy issues that are being addressed but are still adversely affecting cashflows.

“By combining to form a larger, stronger, group, we will be better placed to withstand these pressures. We aim to provide an even better service to our customers and secure the future for our people.”