Flybe Shareholders Approve Deal With Connect Airways

For a while now Flybe has been on the market, with multiple bids being made for the company. Virgin Atlantic eventually won the final bid of £2.8 million backed Connect Airways. However, that was not the last call until now.

For the deal to be completed the shareholders of Flybe had to agree to the sale, which has proven to be a tough decision to make. Finally, the decision has been made, with a vote of 63% in favour of the sale it has been agreed. The takeover is due to happen next week on the 11th March, subject to formal sanctioning by a court later this week.

Flybe is set to be rebranded as Virgin Atlantic but will be operated independently by Connect airways. The flights and operations are set to continue as usual just with new owners. It is unclear at the moment how this sale could affect the contractors and staff, but one thing that is certain is that chief executive Christine Ourmieres-Widener’s job is safe.

In a Statement Flybe described the Connect Airways deal as “the only viable option available to the company which provides the security the business needs to continue to trade successfully”.

Many people believe that the deal should not have been approved, with the two main shareholders voting against the deal. People have branded it as a complete and utter failure from the other board members. Others are saying that they have been completely undersold. However, there isn’t much they can do anymore in this situation other than watch as the takeover unfolds.

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Flybe Shareholders Approve Deal With Connect Airways

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Flybe Shareholders Approve Deal With Connect Airways