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27 Nov 2018

BY Rob Gill

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TRFBLI

Flybe’s shares soar on potential takeover battle

Virgin Atlantic has confirmed that it is one of the potential bidders for regional airline Flybe, which put itself up for sale earlier this month.

Moye Flybe Purple

Exeter-based Flybe said Virgin was “one of the parties it is in discussions with as part of the formal sale process”.

 

“Virgin Atlantic has a trading and codeshare relationship with Flybe and confirms that it is reviewing its options in respect of Flybe which range from enhanced commercial arrangements to a possible offer for Flybe,” said Virgin in a statement to the London Stock Exchange.

 

British Airways’ owner IAG is believed to be another potential bidder for Flybe, according to a report in The Sunday Telegraph.

 

Flybe’s share price has more than doubled over the past week from 9p to 24p.

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