Flybe's majority shareholder sells entire stake
Rosedale Aviation Holdings owned 48.1 per cent of embattled carrier
Struggling regional airline Flybe has warned that it plans to axe another 500 jobs in the latest round of cost- cutting. Photograph: Andrew Milligan/PA Wire
Flybe’s free float is now expected to increase to 85 per cent, the embattled carrier said in a statement today.
The shares were placed with institutional investors by Liberum Capital, which advised on the sale.
The company, which operates Europe’s largest regional airline, said on Monday it would cut another 500 jobs, mainly in Britain. It also said it would further reduce its routes, review its fleet mix, remove surplus capacity and improve aircraft and crew utilisation. (Reuters)