Flybe, the struggling UK-based regional airline, has announced it is putting itself up for sale after delivering disappointing set of results.
- According to media reports, a combination of Brexit-related uncertainty, the weaker pound and soaring fuel costs forced the directors of the airline to take up the decision on takeover to preserve airline’s future.
- Flybe has recently undergone cost-cutting measures and capacity adjustments to better compete. However, the airline still saw revenues fall 10% on the year, with a 9% cut in capacity.
- Flybe has not revealed the potential buyers the airline is in talks with while a number of European airlines are looking to expand their capacity. Flybe is a good option to establish a firm foothold in the UK market, however, there are uncertainties over airline ownership rules after Brexit.