Virgin Atlantic in talks to buy Flybe - Sky News
Reuters
Published Nov 22, 2018 20:39
Virgin Atlantic in talks to buy Flybe - Sky News
(Reuters) - Virgin Atlantic Airways is in talks to acquire regional airline Flybe Group Plc (L:FLYB), Sky News reported on Thursday, a week after Flybe said it was in talks to sell itself.
A tie-up with Flybe would provide opportunities to feed passenger traffic into Virgin Atlantic's long-haul network and access valuable take-off and landing slots at London Heathrow Airport, Sky News reported, citing unnamed sources.
Virgin Atlantic's main business is UK-to-U.S. flights. The company is owned by Richard Branson's Virgin Group and U.S. airline Delta Air Lines (NYSE:DAL).
The report did not mention any financial details. Flybe has a market capitalization of about 21 million pounds, according to Refinitiv Eikon data.
Flybe and Virgin Atlantic declined to comment.
Flybe issued a profit warning in October citing weakening demand, higher fuel costs and a weaker British pound.
Sky News had previously reported that Stobart Group Ltd (L:STOB) was likely to be one of the potential suitors for Flybe.
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Written By: Reuters
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