Flybe's majority shareholder sells entire stake

Flybe Group said majority shareholder Rosedale Aviation Holdings has sold its entire 48.1 per cent stake in the airline.

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)