Govt drafts in Cook turnaround experts to advise on Flybe

Sky News reports Alvarez & Marsal (A&M) will guide ministers on any potential taxpayer cash support for the struggling regional carrier, which was bought out by Virgin Atlantic-led consortium Connect Airways last year and is due to be rebranded Virgin Connect this year.

Flybe is seeking a £100 million government loan to stave off further winter pressures. It comes after Flybe struck a deal with the government earlier this month to defer some of its Air Passenger Duty (APD) bill. The companies shareholders have pledged to make further investment in the business.

According to the Sky, A&M has been in talks with Flybe, owner Connect and government officials in recent days over the terms of a commercial loan.