The board of Flybe has rejected an alternative funding proposal to secure the airline’s future from former Stobart Group boss Andrew Tinkler.
In a trading update issued on Monday morning (February 4), the board confirmed it had received a “very preliminary, short and highly conditional contingency proposal” from Tinkler, who bought a 12% stake in Flybe last month.
The proposal, the board said, comprised a capital injection and funding to replace that offered by Virgin Atlantic-led consortium Connect Airways.
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